Greystone has announced the closing of a $50,000,000 bridge loan made to an affiliate of Hudson Companies to refinance House No. 94, a new seven-story, 75-unit 80/20 mixed-income multifamily rental at 94 North 3rd Street in Williamsburg.
The five-year variable-rate loan was provided by an affiliate of Ares Management LLC to replace the original Wells Fargo construction facility.
House No. 94, completed in 2018, features two roof decks with Manhattan skyline views, a 12,000 s/f landscaped courtyard and amenities that includes an attended lobby, bicycle storage, a fitness center and tenant lounge.
Greystone Capital Advisors, led by president Drew Fletcher, served as exclusive advisor on the transaction, with support from managing director Matthew Klauer and analyst Cassandra Connolly.