Updated Oct 19, 2026
Greenline Development Refinances Multifamily Property In Greenpoint, Brooklyn For $13.15M With Lender Michael Hoffenberg - Trevian Capital
540 Graham Avenue
$13,150,000
$781/SF
Building Size
16,834 SF
Asset Type
MultiFamily
Closing
Dec 28, 2023
About this deal
AI
The property involved in this transaction is a multifamily located at 540 Graham Avenue in Greenpoint, Brooklyn. It spans approximately 16,834 square feet and consists of 25 units. The loan transaction took place on December 28, 2023.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,150,000
- Market: Greenpoint, Brooklyn
- Address: 540 Graham Avenue
- Square Footage: 16,834
- Number of Units: 25
The lender in this transaction is Michael Hoffenberg from Trevian Capital. Greenline Development is the landlord. The broker involved in the deal is Morris Betesh from Meridian Capital Group.
On the Map
$13,150,000
$781/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
1.21%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93