Meir D. Tabak Of Watermark Capital Group Secures $6.5M Refinance Loan In Brooklyn
776 Classon Avenue & 774 Classon Avenue
$6,500,000
$223/SF
Building Size
14,557 SF
Asset Type
MultiFamily
Closing
Jan 15, 2026
AI
The asset involved in this transaction comprises two residential walkup buildings located at 776 Classon Avenue and 774 Classon Avenue in the Crown Heights market of Brooklyn. The total square footage of the properties is 14,557. The transaction involved a refinance loan amounting to $6,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Lender: CMFG Life Insurance Company
- Landlord: Meir D. Tabak - Watermark Capital Group
- Loan Type: Refinance
- Date: 01/15/2026
Watermark Capital Group, through Ben Sinai C LLC, executed the refinance of the two buildings, effectively replacing prior debt held by Capital One with the new loan from CMFG Life Insurance Company.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93