M&T Realty Capital Corporation® (M&T RCC) is pleased to announce the closing of a $50 million Freddie Mac loan for The Alyn, a premier 56-unit luxury multifamily property located on Manhattan’s Upper East Side. The borrower, an affiliate of Gordon Property Group, is a New York-based family office that for three generations, has owned and operated a diverse real estate portfolio in and around New York City.

The Alyn, built in 2019, features 56 Class-A luxury residences and offers tremendous amenities such as garage parking, children’s playroom and a wellness center. The refinance transaction was highly competitive, with M&T RCC emerging as the lender among a field of life companies and debt funds. Freddie Mac provided a competitively priced fixed-rate loan. This transaction highlights Freddie Mac's appetite to compete in the Class-A apartment space for the right client and asset.

Due to M&T’s strong reputation and deep relationships within the New York City market, Gordon Property Group was introduced to M&T through an existing client of Connor Preece, Group Manager at M&T Bank. Recognizing the opportunity, Connor Preece introduced the Gordon Property Group to Robert Barry of M&T RCC to explore off balance sheet financing options.

As a new client to both M&T Bank and M&T RCC, Gordon Property Group benefited from the seamless collaboration between the two platforms which operated as a unified team throughout the transaction.

“Our integrated approach and deep understanding of the NYC multifamily market allowed us to deliver a tailored financing solution that met the client’s long-term goals,” said Robert Barry, Senior Vice President at M&T RCC. “This deal and structure show that agency financing can be competitive for Class A assets in strong multifamily markets for strong borrowers.”