A HUD-financed seniors housing project has celebrated its grand opening in Bay Shore, New York. Netherbay at Bay Shore is a state-of-the-art assisted living/memory care community located at the historic Gulden family’s summer homestead on Long Island. It features 72 units and is operated by Meridian Senior Living.
Greystone’s Lisa Fischman had originated the $26 million construction-to-permanent HUD loan in 2023, which was the only healthcare construction loan in the United States approved by HUD that year. With construction complete, the financing converts to a 40-year, fully amortizing, non-recourse, fixed, low-rate loan.
