NEW YORK—Greystone, a national provider of multifamily and commercial mortgage loans has originated $14.3 million in financing for two cooperative properties located in New York City. Greystone’s Robert Meehan and Jonathan Morales worked with FirstService Financial to secure the loans, both Fannie Mae Delegated Underwriting and Servicing (DUS) transactions.
Located at 399 East 72nd Street, the first property financed received a $7.7 million, 10-year fixed-rate loan. The property consists of 163 apartment units and two ground floor commercial spaces.
The second property, located at 41 Eastern Parkway in Brooklyn, received a $6.6 million, 10-year interest-only, fixed-rate loan. The building includes 59 units.
“Working closely with FirstService Financial, we were able to address each of the property’s financing needs and successfully coordinate the two Fannie Mae DUS loans,” said Billy Posey, executive vice president of Greystone Servicing Corporation. “We continue to see a lot of growth and opportunity within New York City’s real estate market and look to complete similar deals as we close out the year and head into 2013.”