Capitol Apartments in NYC Gets $45M Loan

NEW YORK—Greystone Servicing Corporation Inc. (Greystone) has provided a $45 million Greystone Servicing Corporation MAH DUS loan for Capitol Apartments, a 278-unit property in New York City. The 10-year, fixed rate loan was originated by Rob Meehan, director, and Brian Liske, managing director in Greystone’s New York City office. It includes a 53 percent loan-to-value (LTV) and a rate of 3.03 percent.

The loan was used to refinance an existing loan on the property, which consists of 250 Section 8 senior housing apartments, 28 market rate apartments and six ground-level retail stores.

“Our knowledge of the local market, combined with a close relationship with Fannie Mae, allowed us to successfully meet our client’s financing needs in an efficient and thorough manner,” said Billy Posey, executive vice president of Greystone Servicing Corporation.

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