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| Billy Posey |
New York, NY – Nov. 19, 2012 – Greystone, a leading national
provider of multifamily and commercial mortgage loans, today announced that is
has originated $14.3 million in financing for two cooperative properties,
located in New York City.
The Greystone team,
led by Robert Meehan and Jonathan Morales, worked with
FirstService Financial to secure the loans, both Fannie Mae Delegated
Underwriting and Servicing (DUS®) transactions.
The deals follow the
recent loan closing for Capitol Apartments in New York City, and bring
the total amount of loans in the last quarter originated by the group in
conjunction with FirstService to over $59 million.
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| Robert Meehan |
“Having worked with
Greystone on the $45 million loan for Capitol Apartments, we were confident in
the team’s relationship with Fannie Mae and knowledge of the highly competitive
New York real estate market,” said Deborah Haller, Vice President at
FirstService Financial. “Through Greystone, we were able to access the best
possible financing in an efficient and well-executed manner, and we look
forward to continuing our relationship in the future.”
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| Deborah Haller |
The first property,
located at 399 East 72nd Street, received a $7.7 million, 10-year fixed rate
loan at an interest rate of 3.12%. The building consists of 163 apartment units
and two ground floor commercial spaces. The second, a 59-unit cooperative at 41
Eastern Parkway in Brooklyn, was provided a $6.6 million, 10-year interest only
fixed rate loan with a 3.39% interest rate.
“Working closely
with FirstService Financial, we were able to address each of the property’s
financing needs and successfully coordinate the two Fannie Mae DUS loans,” said
Billy Posey, Executive Vice President of Greystone Servicing
Corporation. “We continue to see a lot of growth and opportunity within New
York City’s real estate market and look to complete similar deals as we close
out the year and head into 2013.”
Press contacts::
Loretta Mock/Jessica Kleinman
Cognito
+1 646 395 6300
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