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2224 Cropsey Avenue

Joel Landau Secures $37.8 Million Refinance Loan From Valley National Bank For 107-Unit Multifamily In Brooklyn
FINANCEDMultiFamily

Joel Landau Secures $37.8 Million Refinance Loan From Valley National Bank For 107-Unit Multifamily In Brooklyn

2224 Cropsey Avenue

$37,800,000

Building Size

Asset Type

MultiFamily

Closing

Jul 17, 2026

AI

The property asset involved in this transaction is a MultiFamily building located at 2224 Cropsey Avenue in Brooklyn, consisting of 107 units. The loan amount secured for this refinancing is $37,800,000.

Summary of transaction details:

This transaction features key individuals including Joel Landau as the borrower and representatives from Valley National Bank, specifically Chris Gregg, Roger Rofe, and Roland Cablayan. The brokers, Ernest Lefkowitz, Leah Paskus, and Pinchas Vogel, are associated with Landstone Capital Group and facilitated the refinancing process.

Players

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
Valley National Bank
Valley National BankLender
Ernest Lefkowitz

Ernest Lefkowitz

Landstone Capital Group

Originator

$282M

vol

4 deals

Originator

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93