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526 Baltic Street

Updated Dec 4, 2025

Michael Squires And Ben Rosenberg Provide $62 Million Refinance Loan For 526 Baltic Street Brooklyn
FINANCEDMultiFamily

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:

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

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$62,000,000

$674/SF

MultiFamily

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Players

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
Michael Squires

Michael Squires

MF1

Lender

$618.2M

vol

5 deals

Lender
M
MF1Lender

Mendel Berkowitz

Landlord

$85.5M

vol

2 deals

Landlord
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Brooklyn MultiFamily Market Snapshot

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Deal FAQ

About $674 per square foot on a published $62M for 91,893 square feet (2025).

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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

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