April 2, 2015
By Daniel Geiger
Greystone, a prolific real estate investment firm and lender, has acquired a small TriBeCa retail building for $17 million.
The company bought 108 Chambers St., a one-story, 2,000-square-foot property, from retail investment firm Ashkenazy Acquisition Corp. The deal closed Thursday.
The property may be diminutive, but it has larger potential. The site has about 12,000 square feet of unused residential development rights, according to Jeffrey Simpson, who heads Greystone Property Development, the company’s acquisition and development arm. That means the site, which is situated at a highly desirable corner lot in one of the city’s hottest residential neighborhoods, could become home to a high-end condo development. The entrance to the Chambers Street subway station also sits directly in front of the site—further enhancing its value.
But plans to convert the retail property into condos will have to wait. Mr. Simpson said that Ashkenazy just arranged two leases that will fill the retail space at 108 Chambers St. for the next decade. He could not yet disclose the tenants.
April 1, 2015
By Kerry Murtha
On City Island, Manhattan-based developer Greystone recently launched a waterfront 43-unit condo building. It’s the first residential development there in more than 15 years. Prices are estimated to start at $478,000.
“”The Bronx is finally getting its piece of the economic pie,” said Cintron. “We’re not going to stop until every neighborhood in this borough benefits.”
March 31, 2015
By Damian Ghigliotty
National multifamily and healthcare lender Greystone has partnered with New York-based healthcare management company Sentosa Care to develop a 280-bed skilled nursing facility in Nassau County, Long Island, Mortgage Observer has learned.
The two companies signed a deal in which Greystone will serve as development manager and financier for the 178,854-square-foot, five-story property to be called the Woodmere Rehabilitation and Healthcare Facility.
The arrangement is a first for both parties.
“It’s an organic situation where a long-term relationship turned the corner into a unique scenario we haven’t explored before,” saidJeffrey Simpson, head of Greystone’s development arm. “Sentosa has been a client of ours for more than a decade, so there’s a proven synergy.”
March 24, 2015
Greystone, a real estate development and financial services group, hosted a broker event to mark the grand opening of the sales gallery for Waterbridge 47, a new condominium development featuring 25 residences in DUMBO. Event attendees enjoyed refreshments by Bacchanal, sampled wines from Red Hook Winery and listened to live music by the Live Jazz Trio.
March 6, 2015
By Zoe Rosenberg
Demolition has started at the site of the landmarked-but-not-really-worth-it triangular building at 130 Seventh Avenue South, DNAinfo reports. The site will give rise to a new high-end condo building designed by BKSK that won over the Landmarks Preservation Commission on its third try in April 2014. The building will replace embattled nightclub Veranda that shuttered amidst legal woes in 2013. The new six-story building between West 9th and West 10th streets is being developed by Greystone with Continental Ventures and Itzhaki Acquisitions.
February 23, 2015By Zoe Rosenberg
One of developer Greystone’s luxury apartment projects in Clinton Hill is on the rise, and now a rendering of the project has surfaced on AB Architekten’s website
(h/t tipster). The rendering shows a glass boxwrapping around the facades
of two two-story townhouses. According to a rep from AB Architekten
, the facades have been incorporated into the new building’s design
as a condition of their seller. Behind the restored facades will be the building’s amenity spaces, including a 761-square-foot outdoor terrace. Permits
for the building say it will have 39 rentals
over eight floors.