Citibank Provides $35 Million Refinance For 406 Remsen Avenue Multifamily Property In Brooklyn

406 Remsen Avenue is a newly built multifamily property located in the East Flatbush neighborhood of Brooklyn. The eight-story building comprises 95 units and features amenities such as a fitness center, rooftop terrace, private balconies, garage parking, and bike storage. It was completed in 2024 and is conveniently situated steps from the Saratoga Avenue subway station.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $35,000,000
• Address: 406 Remsen Avenue
• Market: Brooklyn
• Lender: Citibank
• Loan Type: Refinance
• Landlord's Representative: Naphtali Marrus & Benjamin Nevid - Meridian Capital Group

Naphtali Marrus and Benjamin Nevid from Meridian Capital Group facilitated the refinancing of the property, securing $35,000,000 from Citibank. This transaction showcases the team’s expertise in managing substantial financing agreements in the multifamily sector.