New Construction and Development

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.

LMC, a leader in apartment development and operations, today announced the grand opening of The Morris, a luxury mixed-use apartment community located along Music Row at the site of country-music icon Dale Morris’ former office.

LMC, a leader in apartment development and management, along with its partner, Clark Street Real Estate, today announced several milestones in the development of The Emerson, a luxury mixed-use apartment community designed to enhance the modern, pedestrian-friendly lifestyle in Oak Park, Ill.

Greystone Development, a New York-based real estate development company, and Alta Developers, today announced it has launched leasing at the highly-anticipated 2500 Biscayne building in the Edgewater district of Miami, FL. The glistening 19-story rental building boasts 156 residential units at the epicenter of the area’s burgeoning arts enclave and within close proximity to Biscayne Bay.

Greystone Development, a New York-based real estate development company, and Alta Developers, today announced it has launched leasing at the highly-anticipated 2500 Biscayne building in the Edgewater district of Miami, FL. The glistening 19-story rental building boasts 156 residential units at the epicenter of the area’s burgeoning arts enclave and within close proximity to Biscayne Bay.    

Greystone Development, a New York-based real estate development company, today announced that Steuben, one of Greystone’s two Clinton Hill rental buildings collectively dubbed Myrtle & Steuben, is over 50 percent leased. Dave Maundrell of Citi Habitats is exclusively handling the leasing for these properties.

LMC, a leader in apartment development and management, today announced the opening of The Briscoe, a modern upscale apartment community located in the Park Central District in Dallas.  

LMC, a leader in apartment development and management, today announced it has broken ground on Vireo, a luxury apartment community in the city’s thriving Midtown district.  

LMC, a leader in apartment development and management, today announced the topping off of two luxury apartment communities, Valdok and Axle, in Seattle. Structural framing was finished at Valdok’s first building in the city’s Ballard neighborhood on Aug. 10. Axle, located in the Interbay neighborhood, topped off on Sept. 1.

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