JLL Capital Markets has secured a $154.25 million refinancing for Greybarn Amityville, a mixed-use residential property on Long Island’s South Shore. The asset, located at 805 Broadway in Amityville, NY, is owned by Rechler Equity Partners.
The JLL Capital Markets team included senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross. They arranged the new financing on behalf of Rechler Equity Partners through PCCP, LLC. Specific loan terms were not disclosed.
Commenting on the current lending environment, Rotchford noted that capital providers are closely evaluating how multifamily assets are performing today, along with an owner’s ability to keep properties competitive over time. He said Greybarn Amityville combined established residential demand, a robust amenity offering and long-term ownership by the original developer and ongoing manager, which were important factors in winning lender support for the refinancing in a market where lenders remain selective.
Greybarn Amityville was developed by Rechler Equity Partners in three phases between 2016 and 2020. The property comprises 335 apartments above ground-floor retail and has achieved stabilized operations. The mixed-use community is positioned in a market described as having limited new construction activity, underscoring the importance of existing, well-leased product in meeting local housing and retail demand.
The project includes 37,737 square feet of ground-floor retail space, supporting the residential component with on-site commercial offerings. While the article does not detail specific amenities, it emphasizes that the overall amenity package contributed to lender confidence in the asset’s long-term competitiveness.
Situated on Long Island’s South Shore in Amityville, the property benefits from a location that has already demonstrated consistent residential demand. With the new refinancing in place, Rechler Equity Partners maintains control of a fully stabilized, mixed-use asset at a time when not all borrowers are able to access similar levels of debt capital.
The transaction highlights how a combination of performance, sponsorship strength and market positioning can attract significant refinancing proceeds, even as lenders apply heightened scrutiny to new multifamily loans.
