Greystone Secures $17.4 Million Freddie Mac Refinance for The Keys, a 96-Unit Philadelphia Multifamily Property
PHILADELPHIA, Sept. 10, 2026 — Greystone has closed a $17,362,000 Freddie Mac refinance for The Keys, a 96-unit mixed-use multifamily property located at 7127 Keystone St. in Philadelphia, Pennsylvania. The financing was originated by Bryan Grover at Greystone on behalf of the property's owner, Tay Investments.
Property Overview: The Keys at 7127 Keystone Street
The Keys is a five-story, 100,508-square-foot building constructed in 2023 in the Tacony submarket of Northeast Philadelphia. The property comprises 96 residential units — a mix of studio, one-bedroom and two-bedroom floor plans — along with approximately 9,549 square feet of ground-floor retail space and covered parking.
Unit sizes range from approximately 413 to 548 square feet for studios, around 683 square feet for one-bedrooms, and between 890 and 1,130 square feet for two-bedroom layouts. Asking rents span roughly $1,200 to $2,000 per month across the unit mix, with studios starting near $1,197 per month, one-bedrooms from approximately $1,490 per month, and two-bedrooms from around $1,682 per month.
Amenities at the property include a fitness center, game room, co-working space, package room, bike room, roof deck, in-unit laundry and covered parking. The property also benefits from a Philadelphia real estate tax abatement, which supports cash flow in the early years of ownership.
Freddie Mac Financing Details
The $17,362,000 loan refinances existing debt on the stabilized asset with long-term agency financing through Freddie Mac. At the loan amount, the financing equates to approximately $181,900 per residential unit and roughly $173 per square foot of total building area.
Bryan Grover originated the transaction for Greystone, which describes itself as a national commercial real estate finance company with an established position as a top Freddie Mac lender in the multifamily sector.
"The Keys is a high-quality multifamily asset with strong occupancy, and Freddie Mac financing was an excellent fit for the property," Grover said. "Greystone's deep Agency lending capabilities enable us to deliver efficient, long-term financing solutions that help our clients execute their business plans and position their properties for continued success."
Philadelphia Multifamily Market Context
The refinance lands in a Philadelphia multifamily market that has shown steady rent growth and tight occupancy heading into the second half of 2026. Average asking rents in the metro reached approximately $1,902 per month in the second quarter of 2026, while occupancy at stabilized assets has held near 95%. Recent multifamily transactions in the city have priced at an average of roughly $188,800 per unit, with cap rates near 6% for stabilized properties.
The Keys' rent band and its new-construction profile position it broadly in line with — and in some unit types above — metro-wide averages on a per-unit basis. The Philadelphia real estate tax abatement attached to the property further enhances its near-term operating economics.
About the Parties
Tay Investments is the sponsor and owner of The Keys. Additional information about the property is available at liveatthekeys.com, and information about Tay Investments is available at tayinvestments.com.
Greystone is a private national commercial real estate finance company. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and other Greystone affiliates. Freddie Mac is a government-sponsored enterprise that provides liquidity to the multifamily mortgage market.