M&T Realty Capital Corporation (M&T RCC) announced the closing of a $50 million Freddie Mac loan for The Alyn, a 56-unit luxury multifamily rental building located at 152 East 87th St. The borrower is an affiliate of Gordon Property Group, a New York-based family office.
Freddie Mac provided a competitively priced fixed-rate loan. This transaction highlights Freddie Mac’s ability to compete in the Class-A apartment space.
Gordon Property Group was introduced to M&T through an existing client of Connor Preece, group manager at M&T Bank. Connor then connected the borrower with Robert Barry, senior vice president, of M&T RCC to explore off balance sheet financing options.
:Our integrated approach and deep understanding of the NYC multifamily market allowed us to deliver a tailored financing solution that met the client’s long-term goals,” said Barry. “This deal and structure show that agency financing can be competitive for Class A assets, in strong multifamily markets, for strong borrowers.”
The Alyn, built in 2019, features 56 Class-A luxury residences and offers premium amenities such as garage parking, a children’s playroom and a wellness center.
