Joel Landau Secures $90 Million Refinance Loan From Valley National Bank For Brooklyn Multifamily Asset
270 Nostrand Avenue
$90,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 29, 2025
AI
The multifamily asset located at 270 Nostrand Avenue in the Brooklyn market consists of 140 units. The total loan amount for this refinance transaction is $90,000,000, which was provided by Valley National Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Loan Type: Refinance
- Address: 270 Nostrand Avenue
- Market: Brooklyn
- Lender: Valley National Bank
- Loan Originators: Chris Gregg, Roger Rofe & Roland Cablayan
- Landlord: Joel Landau
- Brokers: Ernest Lefkowitz & Leah Paskus - Landstone Capital Group
The key individuals involved in this transaction include loan originators Chris Gregg, Roger Rofe, and Roland Cablayan, who facilitated the refinance. The landlords for the property are represented by Joel Landau in this closed transaction, while the brokerage representation includes Ernest Lefkowitz and Leah Paskus from Landstone Capital Group.
Players
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93