Updated Sep 17, 2025
Jacob Schwimmer Secures $130 Million Refinance Loan From Goldman Sachs For Multifamily In Boerum Hill
540 Atlantic Avenue
$130,000,000
$826/SF
Building Size
157,265 SF
Asset Type
MultiFamily
Closing
Aug 28, 2025
About this deal
AI
A refinancing loan of $130,000,000 was secured for a multifamily asset consisting of 159 residential units located at 540 Atlantic Avenue in Boerum Hill, Brooklyn. The total square footage of the property is 157,265. The asset is part of a vibrant urban market known for its residential offerings.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Loan Type: Refinance
- Address: 540 Atlantic Avenue
- Market: Boerum Hill, Brooklyn
- Lender: Goldman Sachs
- Landlord: Jacob Schwimmer
The financing was arranged through Jacob Schwimmer’s 540 Atlantic Realty, representing a significant move in the multifamily sector of Brooklyn by securing necessary funds for improving their asset portfolio. Goldman Sachs is the lender facilitating this refinancing, showcasing their involvement in substantial real estate transactions.
On the Map
$130,000,000
$826/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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93