Greystone, through the efforts of Avi Lifshitz and Aviel Hematian, has secured a $32 million CMBS loan to refinance a 90-unit affordable housing property in Brooklyn. The transaction was facilitated by correspondents Rose Schwartz and Gabby Gutwein of Everest Equity.
The first mortgage has a 51% loan-to-value ratio and offers a five-year term with a 30-year amortization period. This funding will be used for the high-rise apartment building located at 58 Vanderbilt Ave., which was constructed in 2023 in Brooklyn’s Clinton Hill neighborhood. The property features studio-, one-, and two-bedroom units as well as amenities such as a rooftop terrace, business center, recreation room, and bike storage lockers. Additionally, there are two commercial units on the ground floor.
Lifshitz expressed his satisfaction with securing this financing solution for their clients’ critical affordable housing needs: “Our mission is to find the best financing options for our clients.”
