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Greystone Acquires Two Development Properties in Clinton Hill, Brooklyn

NEW YORK, Oct. 6, 2014 (GLOBE NEWSWIRE) -- Greystone, a New York-based real estate development and financial services company, today announced that it has acquired two development properties in the Clinton Hill neighborhood of Brooklyn, New York with a total projected value of over $50 million.

The first property is located at 531 Myrtle Avenue on the corner of Steuben Street, and the second is located at 100-102 Steuben Street between Myrtle and Park Avenues. Both development sites – in close proximity to each other – will be transformed into individual luxury rental apartment buildings with high-end amenities.

"With Greystone's past success on Printhouse Lofts in Williamsburg and the buzz about upcoming Waterbridge 47 in DUMBO, we are thrilled to be able to bring additional new housing to the Brooklyn market that will be truly Greystone," said Jeffrey Simpson, head of Greystone Property Development. "Brooklyn's appeal is only growing, and we are excited to add high-quality residential offerings to meet the demand."

The Greystone Property Development team, based in New York, is currently working on a number of projects in prime locations in Brooklyn, Manhattan and Miami.

About Greystone

Greystone is a financial services and private investment group whose original core business is real estate lending. Over the years, Greystone has added business lines that are related to, and are natural extensions of, its core business. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Real Estate and Healthcare. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. For more information, visit www.greyco.com.

CONTACT: PRESS CONTACT: Karen Marotta PR Manager, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone