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Greystone Acquires Mixed-Use Development Site at 108 Chambers Street in TriBeCa

NEW YORK, April 2, 2015 (GLOBE NEWSWIRE) -- Greystone, a New York-based real estate development and financial services company, today announced that it has acquired a prime retail site at 108 Chambers Street in Manhattan's TriBeCa neighborhood. The property was purchased for $17,000,000 from Ashkenazy Acquisition Corporation.

Located on the corner of Church and Chambers Streets, 108 Chambers currently contains a one-story retail building. The site includes 2,000 square feet of existing ground-floor retail with 12,000 sq ft of accompanying air rights. Located on a prime corner, the property is within close proximity to ample public transportation options, renowned restaurants, nightlife, boutiques and parks.

"TriBeCa is one of Manhattan's most vibrant neighborhoods and we look forward to creating a beautiful retail product that will be anchored by nationally-recognized brands," said Jeffrey Simpson, head of Greystone Property Development. "Known for its cobblestone streets, family-friendly atmosphere and charm, TriBeCa continues to thrive and attract residents and visitors from New York and beyond."

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, FL.

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 Director of Communications, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone