JASA Corporation borrows $31M from Greystone & Co. for assisted living in Brighton Beach

JASA Corporation through the entity Brighton Beach Housing Development Fund Company, I as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Funding Company LLC valued at $31.3 million for 1 parcel, including the tax class multifamily, miscellaneous (D9) and containing 154 residential units at the Scheuer House of Brighton Beach at 3161 Brighton 6th Street in Brooklyn. The deal closed on January 22, 2021 and was recorded on January 29, 2021.
The property contains a total of 120,000 square feet of built space.
The average loan per unit is $203,006.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $1,798,400.

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