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Greystone Forms Relationship With Costa Hollywood on $150 Million Hollywood Project

NEW YORK, Sept. 8, 2015 (GLOBE NEWSWIRE) -- Greystone, a New York-based real estate development and advisory company, today announced that it has formed a relationship with Costa Hollywood to provide strategic advisory services and identify additional capital sources for its $150 million Meliá Costa Hollywood Beach Resort development in Hollywood, FL.

As a first stage in this relationship, Greystone has assisted in obtaining construction financing of $22.5 million from Maxim Capital Group, a New York-based national real estate lender, for the project. The Meliá Costa Hollywood Beach Resort, whose six floors were topped off earlier this summer, will boast 307 units and a fitness center, holistic spa, luxury boutiques, multiple restaurants and lounges, and rooftop swimming pools.

"The Meliá Costa Hollywood project is a stunning addition to the Hollywood, FL market, and we are looking forward to participating in the success of the project as it progresses," said Jeffrey Simpson, head of Greystone Property Development.

"Greystone's ability and track record for procuring financing and pushing construction to completion was a main factor in forming this relationship," said Moses Bensusan, developer and CEO of Costa Hollywood.

About Greystone

Greystone is a real estate lending, investment and advisory company headquartered in New York. Its property development group creates boutique luxury rental and condominium residences and prime quality commercial spaces in gateway cities such as New York and Miami, FL. For more information, visit www.greystonepd.com.

About Costa Hollywood

Located at 777 North Ocean Drive, Hollywood Beach, Florida, Costa Hollywood Condo Resort at Hollywood Beach Village is a luxury resort and high-end retail-shopping district. The property will feature 307 fully furnished units including studios and one, two, and three bedrooms ranging from 366-square feet to 1,500-square feet with terraces and views of the ocean and intracoastal, a rooftop infinity pool and romantic courtyard, entertainment lounge area and an on-site holistic spa and gym as well as boutiques and restaurants within arm's reach. For more information please visit www.costahollywood.com

CONTACT: PRESS CONTACT: Karen Marotta Director of Communications, Greystone 212-896-9149 KMarotta@Greyco.com

Source: Greystone