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937 East 108th Street

Abraham Posner Secures $50 Million Construction Loan From Ponce Bank For Brooklyn Multifamily Project
FINANCEDMultiFamily

Abraham Posner Secures $50 Million Construction Loan From Ponce Bank For Brooklyn Multifamily Project

937 East 108th Street & 951 East 108th Street

$50,000,000

$349/SF

Building Size

143,083 SF

Asset Type

MultiFamily

Closing

Jul 13, 2026

AI

The property involved in this transaction consists of two seven-story multifamily buildings located at 937 East 108th Street and 951 East 108th Street in Brooklyn. The total gross square footage of the asset is 143,083, with a total of 198 units. The loan amount secured for this construction project is $50,000,000.

Summary of transation details:

The deal features involvement from Ponce Bank, which is represented by Elia Agiluar, Doug Romero, and Yanni Kouzilos. The landlord for the property is Abraham Posner, and the representatives for the landlord from Arrow Real Estate Advisors include Morris Betesh, Israel Mermelstein, and Louis Halperin.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$13.5B

vol

233 deals

Broker

Yanni Kouzilos

Ponce Bank

Lender

$678.9M

vol

25 deals

Lender
Ponce Bank
Ponce BankLender

Abraham Posner

Landlord

$80M

vol

4 deals

Landlord

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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93