NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has announced it has provided a $166,205,000 Freddie Mac-backed permanent loan on behalf of TRITEC Real Estate Company and The Olayan Group to refinance The Core at Station Yards, a newly delivered, 388-unit, mixed-use residential, office and retail complex in Ronkonkoma, NY. The 10-year, fixed-rate loan was arranged by Greystone Capital Advisors and originated by Greystone Servicing Company LLC as it was a previous refinance construction financing from ING.
Located at 3 Hawkins Avenue, The Core defines the next chapter of Station Yards, introducing the first retail and office spaces within the +2 million square foot, transit-oriented master development directly adjacent to the Ronkonkoma Long Island Rail Road station. The Property features 388 Class A rental units, approximately 83,500 square feet of office and retail space, and 1,229 parking spaces. Since its delivery in September 2024, The Core has quickly emerged as Long Island’s premier live-work-play destination, adding critical housing options in a supply-constrained market and curated locally based retail offerings centered around a vibrant downtown square. This dynamic setting has become a focal point of connectivity and placemaking for both the surrounding community and the broader Station Yards development.
Greystone Capital Advisors, led by Drew Fletcher, Jesse Kopecky, and Bryan Grover, served as exclusive advisor to the sponsorship team on the transaction.
“We’re proud to have worked with TRITEC and The Olayan Group on this milestone financing for The Core, a signature asset at the heart of one of Long Island’s most impactful master-planned developments,” said Drew Fletcher, President of Greystone Capital Advisors.
“The refinancing reflects the strength of the asset and the continued demand for high-quality housing within thoughtfully designed, transit-oriented communities,” said Jimmy Coughlan, Executive Vice President and Partner at TRITEC Real Estate Company. “We're grateful to Greystone for their efforts to secure financing that supports the long-term success of Station Yards.”
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare lending, having ranked as a top FHA, Freddie Mac, and Fannie Mae 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.
About Station Yards
Station Yards is a vibrant mixed-use development by TRITEC. It will be a new destination hub for Long Islanders. Along with 1,450 apartments, 195,000 square feet of retail space, and 360,000 square feet of office space, Station Yards is creating thousands of jobs and housing options at the busiest train station in Suffolk County. To date TRITEC has is in construction on or already completed:
- 1,054 apartment homes.
- 68,419 square feet of retail space.
- 16,500 square feet of office.
- A public plaza.
For more information, visit stationyardsli.com.
About TRITEC Real Estate Company
Founded in 1986 by brothers Robert J. and James L. Coughlan, TRITEC Real Estate Company is a real estate project delivery organization dedicated to delivering high-quality, trustworthy performance and lasting value. TRITEC Real Estate Company—comprising TRITEC Development Group, LLC, TRITEC Building Company, Inc., and TRITEC Asset Management, Inc.—has established itself as a leader among commercial real estate companies, with a long history of successfully acquiring, developing, constructing, financing, leasing, and managing real estate projects in the New York and DC metro areas.
For more information, visit tritecre.com.
PRESS CONTACT:
Fran Del Valle
Influence Consulting Group for Greystone
fran@influencecentral.com
