The Real Deal New York

All Year Management secures $55M loan for Crown Heights rental building

The lender is Greystone Servicing Corporation
By Christian Bautista | August 03, 2018 02:00PM

1040 Dean Street (Credit: CityRealty)

Yoel Goldman’s All Year Management scored a $54.9 million loan for the Dean, a rental building in Crown Heights.

The lender is Greystone Servicing Corporation, which provided a $9.9 million gap mortgage on top of the existing debt on the property, according to records filed with the city Friday.

The property, at 1040 Dean Street on the corner of Franklin Avenue, is an eight-story building with 120 apartments. A total of 24 apartment units in the building were rented out through the city’s affordable housing lottery.

All Year bought the property for $17.5 million in 2014 and completed construction in April 2017.

Last May, All Year signed a 16,000-square-foot retail lease at the property with City Fresh Market. The location is expected to be the largest grocery store in the neighborhood.

All Year did not immediately respond to requests for comment.