Greystone Development: New Year, New Strategy

Simpson: “We generally focus on opportunities in established cities that have a strong housing market.”

NEW YORK CITY—Looking at Greystone Development’s properties, one might see a range of property and location types in the portfolio. That’s no accident, company head Jeff Simpson tells GlobeSt.com. While the firm likes creating multifamily properties in major markets, it invests in other asset classes and would consider secondary cities, he says, noting, “It’s all about the opportunity.”

GlobeSt.com: Greystone is typically described as a developer focused on gateway cities. Do you continue to like these markets and, if so, why?

Jeff Simpson, head of Greystone Development: We’re generally focused on opportunities where there is an established city with a steady or strong performance in the housing market. Presently we’re in in the boroughs of New York City, in Miami and Palo Alto. We like to be in core locations. But we would consider Chicago, Boston, Washington DC and Philadelphia—it’s just a matter of the opportunity.