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M&T RCC Arranges Freddie Mac Loan for Carnegie Hill Rentals
M&T Realty Capital Corporation (M&T RCC) closed on a $50-million Freddie Mac loan for The Alyn, a premier 56-unit luxury multifamily rental building located at 152 E. 87th St. in Manhattan’s Carnegie Hill neighborhood. The borrower, an affiliate of Gordon Property Group, is a New York-based family office.
The refinance opportunity was highly competitive, with M&T RCC emerging as the lender among a field of life companies and debt funds. Freddie Mac provided a competitively priced fixed-rate loan.
“Our integrated approach and deep understanding of the NYC multifamily market allowed us to deliver a tailored financing solution that met the client’s long-term goals,” said Robert Barry, SVP with M&T RCC. “This deal and structure show that agency financing can be competitive for Class A assets, in strong multifamily markets, for strong borrowers.”
Built in 2019, The Alyn features 56 Class-A luxury units and offers amenities such as garage parking, children’s playroom and a wellness center.
- ◦Financing
