{"id":410566,"date":"2021-01-07T10:56:11","date_gmt":"2021-01-07T15:56:11","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=410566"},"modified":"2021-01-07T10:56:11","modified_gmt":"2021-01-07T15:56:11","slug":"greystone-provides-59-million-in-hud-insured-financing-for-affordable-housing-portfolio-in-harlem","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/greystone-provides-59-million-in-hud-insured-financing-for-affordable-housing-portfolio-in-harlem\/","title":{"rendered":"Greystone Provides $59 Million in HUD-Insured Financing for Affordable Housing Portfolio in Harlem"},"content":{"rendered":"
\n

NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) — Greystone<\/a>, a leading national commercial real estate finance company, has provided a total of $59 million HUD-insured financing for a portfolio of three Section 8 multifamily properties consisting of 143 units in New York City\u2019s Harlem neighborhood. The financing was originated by Leor Dimant, Managing Director, in Greystone\u2019s New York office.<\/p>\n

The $59,077,800 HUD-insured Section 223(f) non-recourse financing carries a 35-year term and 35-year amortization, along with a low, fixed rate. The FHA loans provide a permanent exit from the $45 million bridge financing provided by Greystone to acquire the properties, which are located in Washington Heights, Morningside Heights and West Harlem. The trio of affordable housing properties were acquired for $60 million total.<\/p>\n

The financing ensures that the properties\u2019 Section 8 contract with HUD continues uninterrupted and preserves affordability for residents through its 30-year agreement with New York City Department of Housing Preservation and Development.<\/p>\n

\u201cGreystone is passionate about preserving affordable housing, particularly in urban centers such as New York City, and we are thrilled to be able to shepherd this transaction through to permanent financing,\u201d said Mr. Dimant. \u201cOur extensive multifamily lending platform and deep background in the affordable housing space means that Greystone clients enjoy seamless execution and competitive terms, whether we are working on bridge financing or more permanent solutions with Fannie Mae, Freddie Mac, or HUD.\u201d<\/p>\n

\n About Greystone<\/strong>
\n
Greystone is a national commercial real estate finance 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. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and\/or other Greystone affiliates. For more information, visit www.greystone.com<\/a>.<\/p>\n

\n PRESS CONTACT:<\/strong>
\n
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a total of $59 million HUD-insured financing for a portfolio of three Section 8 multifamily properties consisting of 143 units in New York City\u2019s Harlem neighborhood. The financing was originated by Leor Dimant, Managing Director, in Greystone\u2019s New York office. The $59,077,800 HUD-insured Section 223(f) non-recourse financing carries a 35-year term and 35-year amortization, along with a low, fixed rate. The FHA loans provide a permanent exit from the $45 million bridge financing provided by Greystone to acquire the properties, which are located in Washington Heights, Morningside Heights and West Harlem. The trio of affordable housing properties were acquired for $60 … <\/p>\n

Continue reading “Greystone Provides $59 Million in HUD-Insured Financing for Affordable Housing Portfolio in Harlem”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-410566","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGreystone Provides $59 Million in HUD-Insured Financing for Affordable Housing Portfolio in Harlem - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/greystone-provides-59-million-in-hud-insured-financing-for-affordable-housing-portfolio-in-harlem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greystone Provides $59 Million in HUD-Insured Financing for Affordable Housing Portfolio in Harlem - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Jan. 07, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a total of $59 million HUD-insured financing for a portfolio of three Section 8 multifamily properties consisting of 143 units in New York City\u2019s Harlem neighborhood. The financing was originated by Leor Dimant, Managing Director, in Greystone\u2019s New York office. The $59,077,800 HUD-insured Section 223(f) non-recourse financing carries a 35-year term and 35-year amortization, along with a low, fixed rate. The FHA loans provide a permanent exit from the $45 million bridge financing provided by Greystone to acquire the properties, which are located in Washington Heights, Morningside Heights and West Harlem. 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