A collaborative approach to complex financing
1,238 total units
multifamily community in NYC
$460 million
transaction enabling long-term housing stability
>50% of the units
qualify for various AMI brackets
DUS® model
providing streamlined execution and timely delivery
Trusted partners. Shared expertise. Skilled execution.
When affordability intersects with complexity, collaboration is essential. To structure the $460 million refinancing of Gotham West aimed at preserving sustainable housing, repeat borrower Gotham Organization trusted Fannie Mae. This partnership preserved over 680 rent-accessible units in the multifamily development located in New York City’s Midtown.
A thoughtful approach to a sophisticated transaction
Fannie Mae facilitated this deal through a standby credit enhancement and financing structure working alongside DUS lender Wells Fargo and New York State Housing Finance Agency — providing stability and robust support for a complex deal. The combination of market expertise and the certainty of execution of the DUS model enabled decisive action when it mattered most.
Creating more housing opportunities in high-cost areas
This large-scale, complex transaction ensured that 55% of this transformative property’s 1,238 units remain within reach across a wide range of area median income (AMI) levels. The deal supports New York’s diverse workforce while strengthening the community’s long-term resilience.
Fannie Mae continues to leverage our industry expertise, innovative solutions, and DUS lender partnerships to help borrowers maintain sustainable housing in challenging markets.
