New Construction and Development
In lockstep with the consistent growth of its client roster and portfolio of units under management, KW Property Management & Consulting has opened a new West Palm Beach office and significantly expanded its Miami headquarters and Broward County regional office.
The Denver Tech Center has been perceived primarily as an employment destination for much of its four-plus decades, a place where professionals commute to in the morning and leave behind in the evening. It has been essentially regarded as a ghost town of high-rise office buildings on the weekends.
Greystone, a real estate lending, investment and advisory company, today announced it has arranged $50,026,005 in total financing for the construction of two Class A senior living communities in Arizona and North Carolina. Greystone worked closely with regional banks who provided the debt for Fort Worth-based Aspens Senior Living.
Greystone Development, a New York-based real estate development company, today announced that its newly-opened building, Harlem 125, is over 75 percent leased. Dave Maundrell of Citi Habitats is the exclusive leasing agent for the property.
New Community Corporation (NCC), one of the largest, most comprehensive community development corporations in the U.S., and Greystone Affordable Development, a leading services provider for affordable housing recapitalization, rehabilitation and development transactions, have joined together to help ensure the preservation of critical urban affordable housing in the Newark, NJ community in a $160 million transaction.
Richard Bassuk, Chief Executive Officer, and Drew Fletcher, President, of Greystone Bassuk, today announced the closing of a $30,000,000 construction loan with Bank Hapoalim USA on behalf of an affiliate of BLDG Management Company, Inc. (“BLDG”) for the development of a 45-unit luxury rental apartment building located at 11 Avenue C in the East Village. Greystone Bassuk Managing Director, Matt Klauer, also assisted in the debt placement for the transaction.
Richard Bassuk, Chief Executive Officer, and Drew Fletcher, President, of Greystone Bassuk, today announced the closing of a $103,000,000 construction loan with Bank of China, New York Branch on behalf of an affiliate of The Moinian Group (“TMG”) for 572 11th Avenue in New York City. The loan was structured as a letter of credit enhancing taxable variable-rate bonds issued by The New York State Housing Finance Agency (“HFA”). Notably, the Project was originally slated to receive tax-exempt bond financing and tax credits under the old HFA “80/20” Program, but was required to pivot and close under a 100% taxable execution when the Agency unexpectedly changed its funding policy in June. The new program still provides a full mortgage recording tax exemption, which preserves a valuable and important benefit for the Borrower.