Greystone Provides $45M Bridge Loan for Affordable Housing Portfolio in Manhattan

by David Cohen

NEW YORK CITY — Greystone has provided a $45 million bridge loan for three Section 8 affordable housing properties in Manhattan. The properties are located in Washington Heights, Morningside Heights, and West Harlem. The borrower was undisclosed. The financing will go toward preserving affordability for residents across the three properties through a new 30-year regulatory agreement with New York City Department of Housing Preservation and Development and the extension of the Section 8 contract with HUD.

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