Updated Jan 22, 2026
Greystone Provides $125.8M Bridge Loan To Allstate Ventures For Multifamily Refinancing In New Rochelle
33 Westchester Place
$125,800,000
Units
315
Asset Type
MultiFamily
Closing
Jan 21, 2026
About this deal
AI
The transaction involves a multifamily property consisting of 315 units located at 33 Westchester Place in the New Rochelle market. Greystone provided a $125.8 million senior bridge loan to facilitate the refinance of this asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $125,800,000
- Loan Type: Bridge
- Lender: Greystone
- Landlord: Allstate Ventures
- Preferred Equity: $19,500,000 from Forum Investment Group
The deal was executed to support the refinance of The Alary, served by Greystone, which specializes in structured finance. The involvement of Forum Investment Group indicates additional financial backing for the project.
Players
New Rochelle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93