Renaissance Realty Group borrows $18M from Greystone & Co. for multifamily property in East Harlem

David Chemtob’s Renaissance Realty Group through the entity 122nd Street LLC as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Servicing Company LLC valued at $18.2 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 92 residential units at 134 East 122nd Street in East Harlem. The deal closed on January 27, 2020 and was recorded on January 30, 2020. The loan was subsequently assigned to Fannie Mae.
The property contains a total of 84,941 square feet of built space.
The average loan per unit is $197,348.
The prior lender was Signature Bank, which provided $12 million.

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