NEW YORK, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, announced it has arranged $250 million in bridge financing for AtlanticBK, a newly delivered 456-unit mixed-income residential development in Brooklyn. Greystone Capital Advisors, led by Drew Fletcher, Paul Fried and Bryan Grover, served as exclusive advisor on the transaction.
AtlanticBK is a luxury rental community in Brooklyn offering a refined blend of modern design, thoughtful amenities, and exceptional connectivity. The 17-story, transit-oriented building features spacious residences, curated lifestyle spaces, and ground-floor retail, creating a dynamic living experience rooted in convenience and comfort. With a mix of market-rate and affordable homes, AtlanticBK sets a new standard for contemporary urban living in one of Brooklyn’s most vibrant neighborhoods.
The project was developed by Douglaston Development, a leading vertically integrated owner, operator, and developer based in New York City. Ailanthus, Totem’s housing development affiliate, and BEB Capital, have co-invested alongside Douglaston and are co-developers on the project. Atlantic BK was built by Douglaston’s affiliate construction manager, Levine Builders and will be managed by its affiliated property management firm, Clinton Management. The transaction replaced Wells Fargo’s original $185 million construction loan with a new Wells Fargo originated $250 million bridge loan to support lease-up and stabilization.
“This refinancing marks an important step for AtlanticBK as Douglaston Development transitions the project into lease-up,” said Drew Fletcher, President of Greystone Capital Advisors. “The restructured financing provides added flexibility, lowers the cost of capital, and positions the property for a smooth path to stabilization as leasing accelerates.”
AtlanticBK offers spacious apartments ranging from one to three bedroom layouts. The building’s robust amenity package spans over 35,000 square feet, and includes a state-of-the-art fitness center, coworking lounges with conference rooms, a two-story great room, screening room, golf simulator, panoramic landscaped roof deck, and a 24-hour doorman.
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.
Securities transactions are affected through INTE Securities LLC dba Greystone INTE BD, member FINRA www.finra.org / SIPC www.sipc.org. For information regarding INTE Securities LLC go to www.finra.org/brokercheck
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Fran Del Valle
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