Greystone provided $13,355,000 in Freddie Mac financing for a 24-unit apartment building in Williamsburg, Brooklyn. The loan was originated by Anthony Cristi of Greystone’s New York office.
The refinanced property, located at 310 Graham Avenue, was constructed in 2016. The new conventional Freddie Mac loan on the property represents a permanent exit from construction financing, and carries a 7-year term, 2 years of Interest-only, and a 30-year amortization. The newly-built market-rate rental property includes a roof deck, fitness center, resident lounge, and private parking.
The sponsor, Perl Weisz of CW Realty, commented, “Greystone’s ability to provide attractive financing is a core tenet in our multifamily investment strategy. With their guidance, we have been able to grow and optimize our Brooklyn portfolio.”
“It’s a pleasure to continue working with CW Realty as they grow their Brooklyn portfolio, and we are glad to have a variety of financing options to fit their needs,” said Mr. Cristi.