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Greystone Secures $34.5M Loan for Brooklyn Mixed-Use Property

The bridge loan served as an exit from a Madison Realty Capital loan to allow time for the stabilization of 9,000 square feet of ground-floor retail.

74 Lenox Road. 

NEW YORK CITY – Greystone Co., a national commercial real estate services firm, has completed a $34.5 million bridge loan on Lenox Apartments, a 55-unit mixed-use property located in Brooklyn at 271 Lenox Rd.

The bridge loan served as an exit from a Madison Realty Capital loan to allow time for the stabilization of 9,000 square feet of ground-floor retail and comprises a 24-month term with two six-month extensions.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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