Updated Oct 14, 2026
Michael Squires And Ben Rosenberg Provide $62 Million Refinance Loan For 526 Baltic Street Brooklyn
526 Baltic Street
$62,000,000
$674/SF
Building Size
91,893 SF
Asset Type
MultiFamily
Closing
Nov 24, 2025
About this deal
AI
The property involved in this transaction is located at 526 Baltic Street in Brooklyn, featuring a multi-family asset type with a total square footage of 91,893. The loan amount for this refinance transaction is set at $62,000,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $62,000,000
- Address: 526 Baltic Street
- Market: Brooklyn
- Lender: Michael Squires and Ben Rosenberg - MF1
- Landlord: Shimon Kleinman & Mendel Berkowitz
- Brokers: Shlomy Wertzberger & Leah Paskus - Landstone Capital Group
Key individuals involved in this transaction include lenders Michael Squires and Ben Rosenberg, who represent MF1 in the deal. Brokers Shlomy Wertzberger and Leah Paskus from Landstone Capital Group facilitated the transaction, while the landlords, Shimon Kleinman and Mendel Berkowitz, are the owners involved in this refinancing process.
On the Map
$62,000,000
$674/SF
MultiFamily
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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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93