Eric Rosenstock.
Eric Rosenstock, 30
Managing director at Greystone
Eric Rosenstock was so confident about his goal to be a finance professional that he actually interviewed for a role at Greystone as a teenager out of high school, drawn by the firm’s culture. He didn’t get the job, but the firm had not seen the last of him.
Rosenstock eventually joined the firm in 2015 to underwrite U.S. Department of Housing and Urban Development (HUD) multifamily loans, after a previous stop at asset management firm New Vernon Capital. Rosenstock has since become a managing director at Greystone, leading a small team of finance professionals originating a suite of financing products, including agency, CMBS and bridge offerings.
A hard copy, yellow highlighter and phone call kind of man, Rosenstock isn’t so much enjoying the technological revolution that COVID-19 has sped up. Nonetheless, his group doesn’t trip and fall in the face of increased demand in the multifamily finance space.
His group at Greystone is mostly focused on expertly originating agency financings, backed by a robust research, analytics and underwriting operation. While he calls HUD financings a speciality, his team doesn’t balk at other financing options and products needed to meet challenges that call for a creative and flexible execution.
Now a six-year veteran at Greystone, Rosenstock — who is one of the firm’s top loan producers — has seen demand for his team and the firm’s services skyrocket as multifamily borrowers look to leverage a low-interest-rate environment to lock in long-term agency financings to ride out the pandemic.
As a result, he’s hired two people to his team since March, and he’s eager to “continue the momentum we’ve had, from a bandwidth perspective.”
One of Rosenstock’s most memorable financings was a $125.2 million Fannie Mae portfolio recapitalization last June that he executed with Greystone’s Dan Sacks. The deal was on a $163 million, four-property portfolio in Kentucky and Pennsylvania owned by North Street Properties, and included a shift in ownership structure, where Bayshore Properties acquired a 50 percent stake in the bundle and took over management duties at the properties. North Street was staring down a maturing CMBS loan and was at a loss for refinancing options prior to Rosenstock helping structure this long-term financing and ownership shift.
