Greystone Closes $97.6M HUD-Insured Refinance for East Harlem Multifamily Real Estate

NEW YORK — Greystone has provided a $97.6 million HUD-insured refinance loan for a 272-unit affordable multifamily property in East Harlem, New York, the firm announced Dec. 11. The transaction refinances existing debt and funds renovations while preserving long-term affordability.

HUD-Insured Financing Supports Affordable Housing Preservation

The loan carries a 35-year term and amortization. Proceeds will be used for property improvements and upgrades. Additional details on the borrower, property name, and address were undisclosed in the announcement.

According to Greystone, the financing underscores the firm’s continued focus on affordable housing and HUD-insured multifamily lending.

East Harlem Multifamily Market Context

The refinance contributes to the preservation of affordable housing in East Harlem, a neighborhood where maintaining affordability remains a key priority amid limited new supply. HUD-insured financing continues to serve as a tool for recapitalizing existing affordable housing assets.

Greystone’s Role in Commercial Real Estate Financing

Greystone, a national commercial real estate financing firm, provides a range of agency and HUD-insured loan products for multifamily and affordable housing properties across the United States.

Source: Greystone via GlobeNewswire