The $21.3 million HUD-insured loan carries a 35-year term and amortization, along with a low, fixed rate and Green Mortgage Insurance Premium (MIP) of 0.25% for the duration of the loan. This long-term financing represents a permanent exit from a trio of small Freddie Mac loans Greystone provided in 2017.
Located at 800 North 48th Street, West Village Apartments comprises three separate 4-story parcels and uniquely features large units with three-, four- or five-bedrooms. All of the market rate apartments are townhome-style duplexes with upgraded finishes. The community provides a wide selection of resident amenities, including roof decks for some units, a community courtyard, and parking.