Tryko Partners Completes $21.6M Refinance Loan For 101-Unit Roosevelt Village Apartments In Carteret, NJ

The 101-unit Roosevelt Village Apartments in Carteret, New Jersey, has been refinanced by Greystone with a $21.6 million Fannie Mae Multifamily Affordable Housing (MAH) loan. This loan allows Tryko Partners, the landlord, to monetize some of their equity while helping preserve affordable housing in a challenging lending environment. The asset is a multifamily property with 101 units spread across 5.1 acres. It is located at 100 Roosevelt Avenue in the Carteret market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $21,555,000
• Units: 101
• Acres: 5.1
• Lender: Greystone - Ryan Harkins
• Landlord: Tryko Partners - Isaac Sassoon

Greystone, represented by Ryan Harkins, facilitated the refinancing of the Roosevelt Village Apartments. The loan is a non-recourse, fixed-rate financing with a 10-year term and 35-year amortization. It includes seven years of interest-only payments, which provides Tryko Partners with flexibility in managing their finances.