REW: Greystone funds $16M refi’ on Upper West Side apartment building

Greystone has provided a $16,600,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 43-unit multifamily property in New York City.

The transaction was originated by Reuben Dolny and Jason Yuen in Greystone’s New York office, on behalf of a private, non-U.S.-based entity and its principals, who include architect Solomon Asser. Matthew Slonim of Besen Partners acted as correspondent on the transaction.

The $16.6 million Fannie Mae DUS financing has a 10-year term at a low, fixed rate and a 30-year amortization, with five years of interest-only payments.

Built in 1925, 140 West 86th Street (pictured top) is a high-rise apartment complex located on Manhattan’s Upper West Side. The 24/7 doorman building includes one-, two-, and three-bedroom units and a penthouse, each with updated finishes and modern appliances. In addition, the property offers a basement, two elevators, bicycle room, laundry facilities and an on-site security system.

“Greystone thrives on getting creative to secure the right financing for clients, taking special care to navigate through each transaction’s unique challenges,” said Dolny. “Our team’s deep experience in the multifamily space and extensive lending platform mean we provide clients near and far with seamless execution and unparalleled service on every deal.”

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