NEW YORK CITY— Hudson Companies has secured $92 million in refinancing for the Parkline, a 254-unit multifamily rental apartment building in Prospect Lefferts Gardens, Brooklyn. The loan from Union Bank is structured as a direct purchase of tax-exempt bonds issued by the New York State Housing Finance Agency, under the 80/20 housing program.
The program requires 20% of the units to be set aside for low income households earning at or below 60% of the area median income. The other 80% of the apartments are rented at market rate.
Greystone Bassuk's president Drew Fletcher, and managing director, Matt Klauer, led the debt placement for the transaction.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
