Greystone provides $18.3 million in Fannie Mae DUS financing

Brooklyn, NY Greystone has provided a $18.296 million Fannie Mae Delegated Underwriting & Servicing (DUS) loan to refinance a 154-unit multifamily property. The financing was originated by Anthony Cristi, managing director at Greystone.

Located in the Bedford-Stuyvesant neighborhood, 400 Herkimer St. is situated on 18 acres and is contained in one six-story residential building. Built in 1965, the property has units ranging from studios, to one-, two-, and three-bedroom units. The fixed-rate Fannie Mae financing includes a 10-year term and 30-year amortization.

“With today’s market volatility, it’s critical to lock in an interest rate when they dip,” said Cristi. “It’s my mission to help my clients achieve their property portfolio goals, and Greystone has the tools at hand to help me do so.”

“Anthony and his team are uniquely knowledgeable about the Brooklyn multifamily market and Agency lending, which ensures that we are given the best options for the market at any given time,” said Amarbin Ahmed, principal of the borrower. “We are thrilled with the outcome, enabling us to extract capital and complete obtaining ownership interest in this core property of our portfolio.”