Greystone Provides $92M in Fannie Mae Loans to Metropolitan Realty
Greystone has provided a total of $91,851,000 in Fannie Mae loans to refinance and acquire three affordable housing communities located in New York. The financing was originated by senior managing director Eric Rosenstock and EVP Jeff Englund on behalf of Metropolitan Realty Group.
The financing includes three affordable multifamily communities that will each undergo moderate rehabilitation as part of the transaction. Built in 1975, Pine Town Houses is a 130-unit garden-style apartment community in Long Beach, NY. Hudson View II and III, in Northern Manhattan’s Hamilton Heights neighborhood, total 129 apartments and 11 commercial spaces. Ariel Property Advisors recently arranged the Hudson View II and III acquisition.
Each non-recourse, fixed-rate Fannie Mae loan features a 10-year term with five years of interest-only payments, followed by a 35-year amortization schedule. All three properties are supported by long-term Section 8 Housing Assistance Payments (HAP) contracts and are subject to long-term affordability restrictions.
The conversations behind tomorrow’s apartment deals happen at Connect Apartments on September 22 in LA. Connect with the capital sources, owners, developers, and brokers driving multifamily investment. Learn more and reserve your seat at www.connectapts2026.com.
Other News
JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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National City Investment Group Commences Workforce Housing Build
The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
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Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout