Daniel Wiener Of Chestnut Holding Secures $7.8M Refinance Loan From JPMorgan Chase For Multifamily Building
555 Ocean Avenue
$7,800,000
$75/SF
Building Size
103,472 SF
Asset Type
MultiFamily
Closing
Jul 3, 2025
AI
The asset involved in this transaction is a multifamily property located at 555 Ocean Avenue, Flatbush, Brooklyn. This building encompasses a total square footage of 103,472 and consists of 85 units. A refinance loan of $7,800,000 was secured for this property.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Loan Type: Refinance
- Lender: JPMorgan Chase
- Landlord: Daniel Wiener - Chestnut Holding
Chestnut Holdings, through 555 O LLC, is the borrower in this refinance transaction, demonstrating their involvement in the financing of this multifamily asset in Brooklyn.
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93