Greystone Provides $30.8 Million to Refinance Two Multifamily Sites in Queens
May 14, 2020
Category: Fannie Mae, Multifamily
Greystone has provided $30,865,000 in Fannie Mae Delegated Underwriting and Servicing (DUS®) loans to refinance several multifamily properties in Queens, NYC. The transactions were originated by Anthony Cristi in Greystone’s New York office, with Jay Steinberg of Watermark Capital Group acting as correspondent on the transaction.
A $14,215,000 loan refinances 1635 Putnam Avenue, a 49-unit property in Ridgewood, Queens, and a $16,650,000 loan refinances 1625 Putnam Avenue, an adjacent 48-unit apartment building. Both Fannie Mae loans carry 12-year terms with 30-year amortization periods.
“We are grateful for Greystone’s guidance, and thank Anthony for his trusted stewardship on lending options over the years,” said Meir Tabak of Adar Holdings USA.
“I’ve had the pleasure of working with Mr. Tabak and his team for many years now, and it’s been gratifying to see their portfolio grow and thrive, and for them to be able to extract value from their investments over time,” said Mr. Cristi. “The Fannie Mae multifamily loan is a competitive permanent finance option for workforce housing investors in NYC, and Greystone has an efficient process to close these deals quickly.”