Greystone Provides $9.7 Million in Fannie Mae DUS® Financing for Multi-Family Portfolio in Brooklyn, New York
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NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $9,745,000 loan to Fannie Mae Delegated Underwriting and Servicing (DUS®) to refinance a multi-family portfolio consisting of 24 units in Brooklyn, New York. The transaction was initiated by Greystone’s Jason Yuen, with Abe Weinstock acting as correspondent.
Properties – 1624 East 12and Street in Midwood and 116, 118, 118A, 120 Seigel St. in Williamsburg – were built by the borrower in 2006 and 2008, respectively, and consist of a mix of one, two and three bedroom units. The $9.7 million fixed-rate non-recourse loan has a 10-year term and 30-year amortization, with two years of interest-only payments and a loan-to-value (LTV) ratio by 74%.
“Greystone’s specialty is tapping into our deep well of multi-family resources to navigate through complex transactions, and we love partnering with clients who have a strong connection to their properties and are proud of them,” said Mr. Yuen. “This funding was no exception – our team worked tirelessly to ensure a speedy closing that satisfied all parties and we look forward to delighting this client again in the future.”
“Jason and his team at Greystone are true partners who take unusual care to raise the bar on every transaction,” said Mr. Weinstock, correspondent on this transaction. “I appreciate their insights and the level of care and service they provide to my clients, which is why I look forward to more successful closings with Greystone down the road.”
About GreystoneGreystone is a national, privately held commercial real estate finance company with an established reputation as a leader in multifamily and healthcare financing, having been ranked among the top FHA, Fannie Mae and Freddie Mac lenders in these sectors. Loans are offered by Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:Karen Marotta Greystone212-896-9149[email protected]