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A major national commercial real estate finance company, Greystone, announced today that it has arranged a 143,100,000 permanent loan for RXR Realty affiliates. Buildings are located at the intersection of Fort Green, Clinton Hill and Prospect Heights in Brooklyn, New York. The Greystone Capital Advisors Loan Advisory Team, led by Drew Fletcher and Matthew Hirsch, was working as a special advisor to RXR. The affiliate of MetLife Investment Management had provided a new 10-year, fixed-rate loan and refinanced a $ 125,000,000 construction credit facility from JPMorgan and People’s United Bank, which was also held by Greystone in 2017.
475 Claremont is a 12-story luxury “70/30” multifamily residential building with 363 residential units, approximately 33,000 square feet of retail and 45,000 square feet of parking. Designed by Ofgang Architects and Durukan Design, the property’s residential units include in-unit washer and dryer, 9 to 11-foot ceilings, private terraces, panoramic views of Manhattan and Brooklyn, and kitchens with Baco, Bertazoni and stainless steel appliances. Fisher and Paykel. The property’s convenience package includes a business center with meeting room, children’s room with adjacent outdoor play area, state-of-the-art fitness center with outdoor fitness deck and lounge area, fireplace, outdoor gaming, movie screen, grilling station and dining area. The property also has a landscaped courtyard with a 7-story mural designed and painted by Mona Caron.
“We appreciate our collaborative relationship with financial partners like Greystone,” said Michael Maturo, president of RXR Realty. “475 Claremont’s commitment from construction to long-term financing R succeeds in creating a lasting value for the RXR’s vision and the communities in which we develop and operate.”
“RXR has established itself as a leading founder and developer of the majority of housing organizations in the NY metro market, and 475 Clermont is another example of the firm’s vision and success in delivering high-quality homes to emerging areas,” said Drew Fletcher, chairman of Greston Capital Advisors. “We are excited to be working with RXR on this incredible project, from the original construction financing and now back to the permanent financial phase, as RXR’s vision for Fort Green has come true.”
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, ranked as one of the top FHA, Fannie Mae and Freddie Mac lenders in these areas. Loans are provided by Greystone Servicing Company LLC, Greystone Funding Company LLC and / or other Greystone affiliates. Greystone Capital Advisors is a full-service real estate capital intermediaries and consulting team that serves a select group of the most prominent real estate owners and developers across the United States. For more information, visit www.greystone.com.
About RXR
RXR is a New York-based, vertically integrated real estate owner, investor, operator and developer committed to building socially, economically and environmentally responsible communities. RXR has a first-class multi-disciplinary asset operating, construction, development and investment management platform, with more than 500 employees with expertise in a wide range of value-added enterprises including underperforming assets, construction management, value-added loans, and real estate development.
RXR’s primary investment strategy focuses on New York City and the surrounding area. The RXR platform manages 74 commercial real estate assets, a multi-family residential portfolio of approximately 3,400 units under operation or development, and controls development rights for an additional 2,900 multi-family and sales units in the New York metropolitan area. September 30, 2020.
About MetLife
MetLife Investment Management has been involved in real estate since 1878, activity on behalf of mortgage lenders, developers, and owners. The firm has 200+ real estate investment professionals in 7 regional U.S. offices as well as in international operations in London, Mexico City, Santiago and Tokyo.
MetLife’s global network helps customers stay close and in good standing to meet their unique commercial real estate needs for mortgages, leases, sales, acquisitions, joint ventures and capital transactions. The firm has experience in all major asset types, including office, retail, industrial, multifamily and full-service hotels.
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