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Greystone to Develop Prime West Village Condos at Landmarked 130 7th Avenue South

NEW YORK, Feb. 5, 2015 (GLOBE NEWSWIRE) -- Greystone, a New York-based real estate development and financial services company, today announced it has acquired a major interest in 130 7th Avenue South. The completed property will include full-floor condominiums – approximately 2,500 sq. ft. in size – in a prime West Village location. The project will be developed as a joint venture with Continental Ventures and Itzhaki Acquisitions.

Situated above a full floor of retail space with 85 feet of frontage along 7th Avenue South, the residences will feature private elevator entrances. Located in the Greenwich Village Historic District between West 10th Street and Charles St., the location offers residents close proximity to transportation options, and is nestled amongst popular West Village eateries, shops and lifestyle brand outposts.

"We are thrilled for the opportunity to transform this unique property into a boutique collection of residences that will truly exemplify West Village living," said Jeffrey Simpson, head of Greystone Property Development. "With the addition of prime retail space along 7th Avenue South, the new building and its residences will be the centerpiece of this rapidly developing corridor in Manhattan."

"We are excited about the joint venture of Continental Ventures, Greystone and Itzhaki Acquisitions and the opportunity to create a building that will weave together the historic Greenwich Village neighborhood," stated Jane Gol, President of Continental Ventures. "This development will expand the unique high quality character of residential and retail in the West Village."

The Greystone Property Development team, based in New York, is currently working on a number of projects in prime locations within Manhattan, the outer NYC boroughs 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.

About Continental Ventures

Continental Ventures is a leader in the residential and commercial real estate industry, with over twenty five years of experience in development, property management and ownership of property in New York, Florida and Toronto. Under its sister company Continental Pinewood, the firm develops luxury single family homes and condominiums in Long Island. Continental also owns Bayport Funding LLC which is Greater New York's leading boutique private equity lending firm, specializing in short-term, non-traditional real estate loans to fund the acquisition of residential/commercial real estate investments.

About Itzhaki Acquisitions

Itzhaki Acquisitions is a real estate development firm led by Erez Itzhaki and Gil Boosidan. Founded in 2006 (as Keystone Group NY), the company builds and owns residential and mixed-use buildings in New York City, focusing on creating value in prime neighborhoods. Its full service team manages all aspects of the investment cycle including underwriting, construction, and asset management. Their deep domain expertise in New York City enables them to acquire valuable real estate assets, often through off-market transactions.

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

Source: Greystone