Greystar takes $184M in financing for Chelsea, Brooklyn buys

Loan from Capital One and New York Community Bank will fund four recent purchases

TRD New York /
Mar.March 10, 2016 08:41 AM

Greystar just picked up two major loan to finance its recent spree of buys.

The company borrowed $184 million in total, from Capital One and New York Community Bank, the New York Observer reported.

NY Community Bank’s five-year, $115 million loan will finance Greystar’s purchase of the 18-story rental complex at 160 West 24th Street, called the Chelsea, along with the adjacent 167 West 23rd Street, a three-story retail building. Greystar paid $211.3 million to Chicago-based LaSalle Investment Management for the two earlier this month.

Abe Hirsch and Zev Karpel of Meridian Capital Group represented Greystar in the transaction.

The Charleston, S.C.-based developer also took a five-year, $69 million loan from Capital One to finance its purchase of two rental buildings in Williamsburg, 247 North 7th Street and 248 North 8th Street, which it bought from Adam America Real Estate for $125 million, also in March.

Greystar sold a 10,399-unit multifamily portfolio in December to the Blackstone Group for $2 billion. [NYO]Ariel Stulberg


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(iStock)

Real estate stocks rally on strong May jobs report

Real estate stocks rally on strong May jobs report
As widespread protests sweep the country, the real estate industry reflects on its decades-long support of the NYPD (Photo illustration by Alexis Manrodt for The Real Deal, Getty, iStock)

As Black Lives Matter protests rage on, NY real estate bleeds blue

As Black Lives Matter protests rage on, NY real estate bleeds blue
Compass CEO Robert Reffkin and Realogy CEO Ryan Schneider (Getty and iStock)

Judge says Realogy’s suit against Compass can stand

Judge says Realogy’s suit against Compass can stand
Opportunity Zone investors received an extension from federal government because of Covid-19

Opportunity Zones investors get a Covid-19 lifeline

Opportunity Zones investors get a Covid-19 lifeline
Neiman Marcus at Hudson Yards (Getty, iStock)

Related marketing Neiman’s Hudson Yards store as office

Related marketing Neiman’s Hudson Yards store as office
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...