David Tabak Refinances Six-Unit Mixed-Use Building At 788 Franklin Avenue For $3 Million
788 Franklin Avenue
$3,000,000
$322/SF
Building Size
9,299 SF
Asset Type
Mixed-use
Closing
Aug 14, 2026
About this deal
AI
The property asset involved is a six-unit mixed-use building located at 788 Franklin Avenue in Crown Heights, Brooklyn. The building encompasses a total square footage of 9,299 and was refinanced with a total loan amount of $3,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 788 Franklin Avenue
- Market: Crown Heights, Brooklyn
- Lender: RWC Lending
- Landlord: David Tabak
- Units: 6
- Loan Type: Refinance
David Tabak, through 788 Franklin Realty LLC, was responsible for refinancing the property with the loan from RWC Lending, marking a significant transaction in the mixed-use sector of the Crown Heights market.
Players
Avenue Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93