Yoel Gruber Secures $37.8 Million Refinance Loan From Valley National Bank For Multifamily Property
2224 Cropsey Avenue
$37,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 16, 2026
AI
The asset involved in the transaction is a multifamily residential building located at 2224 Cropsey Avenue in Gravesend, Brooklyn, consisting of 107 units. The total loan amount secured for this property is $37,800,000, which is a refinance loan replacing a prior loan of $24,500,000 from the same lender.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $37,800,000
- Loan Type: Refinance
- Lender: Valley National Bank
- Landlord: Yoel Gruber
- Date of Loan: 07/16/2026
- Recording Date: 07/29/2026
The refinancing loan was secured by Yoel Gruber’s Cropsey Airs Fee Holder LLC. This transaction replaces the previous loan secured from Valley National Bank, indicating a restructuring of the financial arrangement for the property.
Players
Avenue 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