Greystone announced that it has arranged a $20,500,000 refinancing on behalf of Slate Property Group for 66 Ainslie, a 49-unit mixed-use multifamily property located in the Williamsburg neighborhood of Brooklyn, New York. The financing was arranged by the Greystone Capital Advisors team including Drew Fletcher, President, Bryan Grover, Managing Director, and Miryam Reinitz-Kops, Vice President.
Completed in 2017, 66 Ainslie is a seven-story mixed-use residential building featuring 49 rent-stabilized studio and one-bedroom apartments, 4,364 square feet of ground-floor retail space, and seven structured parking spaces. The property offers modern residences with hardwood flooring, in-unit washers and dryers, and kitchens equipped with stainless-steel appliances. Community amenities include a rooftop deck with neighborhood views and a resident lounge. The financing was provided by Wells Fargo through a five-year commercial mortgage-backed securities (CMBS) loan.
Located in Williamsburg, the property benefits from proximity to the neighborhood's dining, shopping and entertainment destinations, as well as convenient access to Manhattan and the greater New York City area via the nearby L and G subway lines.
"66 Ainslie is a well-positioned mixed use multifamily property in one of Brooklyn's most desirable residential neighborhoods," said Mr. Fletcher. "We are pleased to have arranged this refinancing on behalf of Slate Property Group, providing a financing solution that supports the property's long-term positioning in the Williamsburg market."