Jacob Schwimmer Secures $55.3 Million Refinance Loan From Goldman Sachs For Crown Heights Multifamily
721 Lincoln Place
$55,300,000
$808/SF
Building Size
68,379 SF
Asset Type
MultiFamily
Closing
Jun 5, 2026
AI
The asset involved in this transaction is a multifamily property located at 721 Lincoln Place in the Crown Heights market of Brooklyn. This newly built rental features 68,379 square feet and consists of 100 units, reflecting a significant investment in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $55,300,000
- Landlord: Jacob Schwimmer
- Lender: Goldman Sachs
- Loan Type: Refinance
- Previous Lender: Valley National Bank
Jacob Schwimmer executed a refinance transaction to secure a loan for the property, aimed at replacing prior construction debt. This loan from Goldman Sachs represents a strategic financial move for the landlord as they enhance the operational stability of the property.
Players
Lincoln 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93