National Equity Fund Provides $76M Refi on Staten Island Apartments

National Equity Fund (NEF) has provided a $75,700,000 loan to refinance the Seaview Estates Complex, a 316-unit multifamily property on Staten Island. The financing comes in partnership with Iris Holdings Group, a national affordable housing developer and operator spearheading the development.

Seaview Estates is comprised of four elevator buildings in the St. George waterfront neighborhood of Staten Island. Iris Holdings partnered with the NYC Department of Housing Preservation and Development in 2021 to preserve and renovate this property for varying levels of affordability for the next 40 years and has hired CAMBA, Inc. to provide social services at the site. Iris has completed various major system replacements and several energy efficiency upgrades at the complex.

“We enjoyed taking part in preserving this much-needed affordable housing and working with our talented partners at Iris Holdings Group,” said David Martin, member of National Equity Fund Preservation Capital Advisors, LLC

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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