Greystone Bassuk Arranges $217.5M Refinancing for 586-Unit Multifamily Tower in Brooklyn

NEW YORK CITY — Greystone Bassuk has secured a $217.5 million loan for an affiliate of The Gotham Organization for the refinancing of The Ashland, a 53-story multifamily tower located at 250 Ashland Place in Brooklyn. The 30-year, fixed-rate loan was originated by Wells Fargo Multifamily Capital and securitized through Fannie Mae’s multifamily Mortgage-Backed Securities program. Greystone Bassuk served as exclusive advisor on the transaction. Designed by SPAN Architects, the 547,000-square-foot property features 586 mixed-income apartment units, 11,500 square feet of cultural office space and 17,000 square feet of retail space, which is occupied by Gotham Market. On-site amenities include a fitness studio, outdoor fitness area, outdoor screening area, multiple indoor lounges, playroom and stroller/bicycle room.