NEW YORK, May 14, May 14, 2020 (GLOBE NEWSWIRE via COMTEX) -- Greystone, a leading national commercial real estate lending, investment, and advisory company, has provided $30,865,000 in Fannie Mae Delegated Underwriting and Servicing (DUS(R)) loans to refinance several multifamily properties in Queens, NYC. The transactions were originated by Anthony Cristi in Greystone's New York office, with Jay Steinberg of Watermark Capital Group acting as correspondent on the transaction.
A $14,215,000 loan refinances 1635 Putnam Avenue, a 49-unit property in Ridgewood, Queens, and a $16,650,000 loan refinances 1625 Putnam Avenue, an adjacent 48-unit apartment building. Both Fannie Mae loans carry 12-year terms with 30-year amortization periods.
"We are grateful for Greystone's guidance, and thank Anthony for his trusted stewardship on lending options over the years," said Meir Tabak of Adar Holdings USA.
"I've had the pleasure of working with Mr. Tabak and his team for many years now, and it's been gratifying to see their portfolio grow and thrive, and for them to be able to extract value from their investments over time," said Mr. Cristi. "The Fannie Mae multifamily loan is a competitive permanent finance option for workforce housing investors in NYC, and Greystone has an efficient process to close these deals quickly."
Greystone is a real estate lending, investment, and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com .
(C) Copyright 2020 GlobeNewswire, Inc. All rights reserved.