News: Brokerage

Meehan and Liske of Greystone originate $45 million Fannie Mae MAH DUS loan

Greystone Servicing Corp., Inc., a leading national provider of multifamily and commercial mortgage loans, has provided a $45 million Fannie Mae MAH DUS loan for Capitol Apartments, a 278-unit property located at 840 8th Ave. The 10-year, fixed rate loan was originated by Rob Meehan, director and Brian Liske, managing director in Greystone's local office, and includes a 53% loan-to-value (LTV) and a rate of 3.03%. Leveraging their expertise of the local real estate market, Meehan and Liske worked to obtain transaction approval within 30 days of receiving a completed application, along with the requested due diligence, and were able to close the deal in 60 days. The loan was used to refinance an existing loan on the property, which consists of 250 Section 8 senior housing apartments, 28 market rate apartments and 6 ground retail stores. "Our knowledge of the local market, combined with a close relationship with Fannie Mae, allowed us to successfully meet our client's financing needs in an efficient and thorough manner," said Billy Posey, executive vice president of Greystone. "We're seeing a lot of growth and potential in the New York City real estate market, and look to do more of these deals in the future."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.