ACRES has acquired the $37.5 million loan for the refinancing of Greybarn, a premier three-story, Class-A multifamily building situated in Patchogue, NY.
The property benefits from a prime location, just 0.4 miles (a 10-minute walk) from the vibrant Patchogue Village. The area is known for its diverse array of restaurants, bars, breweries, entertainment venues, and lifestyle retail. Additionally, the property is conveniently located less than a mile from the Long Island Rail Road station and one mile from the highway, ensuring easy access via multiple transit options.
The development will include:
• A three-story multifamily building
• 91 residential units
• 1,800 square feet of ground-floor retail space,
• On-site parking for 137 vehicles.
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