Updated Nov 2, 2026
Shulem Herman Secures $6.3 Million Refinance From Franklin BSP Realty Trust For Williamsburg Properties
359 South 4th Street & 355 South 4th Street
$6,300,000
$262/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Oct 8, 2026
About this deal
AI
The transaction involves two multifamily properties located at 359 South 4th Street and 355 South 4th Street in Williamsburg, Brooklyn. The combined asset comprises a total square footage of 12,000 and consists of 16 units. The loan secured for these properties is $6,300,000, aimed at refinancing the existing loans.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $6,300,000
- Loan Type: Refinance
- Market: Williamsburg, Brooklyn
- Lender: Franklin BSP Realty Trust
- Landlord: Shulem Herman
- Asset Square Footage: 12,000
- Number of Units: 16
Shulem Herman, through Schimliv LLC, executed the refinancing deal with Franklin BSP Realty Trust, indicating active financial management of the properties in question.
On the Map
$6,300,000
$262/SF
MultiFamily
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Players
South 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93