It is located in the unincorporated community of Anthony, which is seven miles (11 km) northeast of Ocala, Florida, United States.

[1] Jumbolair Aviation & Equestrian Estates is an aviation-related gated community and airpark situated alongside the airport's runway, the largest private paved airfield in the United States.

[4] A 380-acre (150 ha) horse ranch built by Muriel Vanderbilt, which was purchased by Arthur Jones (inventor of the Nautilus cam) in 1980, sits at the community's center.

The access issue was resolved when Jumbolair purchased the adjacent land and remaining airport rights.

On August 26, 1985, a Luscombe 8E Silvaire, registration number N47BM, was observed to make two steep turns and enter a spin at an altitude of about 200 feet (61 m) AGL immediately after takeoff from Runway 9 at Greystone; the ensuing crash killed the pilot and passenger and destroyed the airplane.