Greystone Arranges $32M CMBS Refi on Brooklyn Multifamily

Greystone Arranges $32M CMBS Refi on Brooklyn Multifamily

Greystone has provided a $32,000,000 CMBS loan to refinance a 90-unit affordable housing property in Brooklyn. The financing was originated by Avi Lifshitz and Aviel Hematian of Greystone. Rose Schwartz and Gabby Gutwein of Everest Equity acted as correspondents on the transaction.

The first mortgage, provided at 51% loan-to-value, includes a five-year term with a 30-year amortization period. Constructed in 2023 and located in the Clinton Hill neighborhood of Brooklyn, 58 Vanderbilt Ave. is a high-rise apartment building featuring studio-, one- and two-bedroom units. The property’s amenities include a rooftop terrace, business center, recreation room, and bike storage lockers. In addition, there are two commercial units on the ground floor of the property.

“It is our mission to find the best financing solution for our clients, and thrilled that we were able to execute on a loan for this critical affordable housing in Brooklyn,” said Lifshitz.

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