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Greystone Provides $54.8 Million Freddie Mac Loan for The Dean in Crown Heights, Brooklyn

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NEW YORK, Aug. 06, 2018 (GLOBE NEWSWIRE) -- Greystone, a leading commercial real estate lending, investment, and advisory company, today announced it has provided $54,871,000 in Freddie Mac financing for The Dean, located at 1040 Dean Street in Crown Heights, Brooklyn. The loan, an exit from construction financing, was originated by Anthony Cristi of Greystone's New York office.

The 10-year fixed-rate Freddie Mac CME loan is specifically designed for new construction assets nearing stabilization. Owned by Yoel Goldman of All Year Holdings, The Dean is a 120-unit 80/20 apartment building located at Dean Street and Franklin Avenue. The building includes 24 units reserved for residents earning 60% of the Average Monthly Income. Rising eight stories high, the property offers all residents a range of amenities such as a roof deck, lounge, fitness center, rooftop terrace, on-site parking, and bike room.  

"The Dean is a high-quality asset with the added bonus of providing affordable housing to New York City residents, and we are thrilled to have worked with Mr. Goldman on yet another great transaction," said Mr. Cristi.

"Greystone has been a reliable partner for us on a number of financing transactions, and we look forward to working with them on future deals as our portfolio continues to grow," said Mr. Goldman.

About Greystone
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 and Affordable Fannie Mae 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 Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. Greystone Funding Corporation and/or other Greystone affiliates. All securities sold through Greystone Broker Dealer Corp., member FINRA and SIPC. For more information, visit www.greyco.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com

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