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Levister Towers Apartments

Mt Vernon, New York

Levister Towers Apartments  – Mt Vernon, New York

Property

Levister Towers Apartments is a 488-unit affordable, family property located in Mt Vernon, New York.

Financing

$23,785,000 fixed rate tax-exempt bond financing and $1,500,000 fixed rate taxable bond financing providing refinancing loan capital.

Description

Red Stone purchased and restructured $23,785,000 of existing fixed rate tax-exempt bonds financing Levister Tower Apartments.  The refinancing provide an increase in cash flow to the property owner and, via the purchase of a new $1,500,000 taxable loan, provided for needed capital work and cash out proceeds for the owner.