Greystone Provides $125.8 Million Bridge Loan and $19.5 Million in Preferred Equity for Class A Multifamily Development in New Rochelle, NY

NEW YORK, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $125.8 million bridge loan and arranged $19.5 million in preferred equity financing for The Alary, a newly completed 315-unit multifamily property located in New Rochelle, NY. The bridge loan was originated by Greystone’s Donny Rosenberg and Jared Kaufman, with preferred equity placement led by Greystone Capital Advisor’s Matthew Zisler.

Developed by Allstate Ventures, The Alary features high-end condominium-style finishes, a rooftop pool and lounge with skyline views, coworking space, a golf simulator, and other resort-style amenities. Located within a rapidly transforming arts and culture district in Westchester County, just steps from the Metro-North station and a 35-minute commute to Midtown Manhattan.

The financing was structured as a three-year interest-only bridge loan with two six-month extension options. Forum served as the preferred equity partner in the transaction. The Alary marks the final phase of Allstate Ventures’ Westchester Place development, a multi‑building, transit‑oriented residential assemblage in downtown New Rochelle. The project follows the successful delivery and lease‑up of Arc House and The Atelier, two adjacent multifamily properties developed as earlier phases of the plan. The portfolio benefits from immediate proximity to the Metro‑North station, supporting commuter demand to Midtown Manhattan, as well as ground‑floor retail and integrated public art elements that have contributed to the area’s repositioning as a mixed‑use corridor.

“Working through the complex zoning and PILOT requirements of New Rochelle’s development framework required detailed legal structuring and a thoughtful financing approach,” said Matthew Zisler, Senior Managing Director at Greystone Capital Advisors. “Our ability to navigate these challenges and pair a strong debt execution with institutional-quality equity capital reflects our deep experience and platform integration. We are pleased to support the sponsor through this key phase of its business plan.”

This muti phase project was a vision orchestrated by Allstate Ventures to implement the long-term objectives of the City of New Rochelle in rezoning the entire Downtown New Rochelle which started in 2018.

About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

All securities transactions are effected through INTE Securities LLC dba Greystone INTE BD, member FINRA (www.finra.org) / SIPC (www.sipc.org). To view INTE Securities LLC, go to www.finra.org/brokercheck

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