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719-723 8th Avenue

Ilan Goldstein Secures $11.1 Million Refinance Loan From Lument For Brooklyn Multifamily Property
FINANCEDMultiFamily

Ilan Goldstein Secures $11.1 Million Refinance Loan From Lument For Brooklyn Multifamily Property

719-723 8th Avenue

$11,100,000

$370/SF

Building Size

29,961 SF

Asset Type

MultiFamily

Closing

Mar 24, 2026

AI

The property asset involved in the transaction is a multifamily building located at 719-723 8th Avenue in Brooklyn. The total square footage of the property is 29,961, and it consists of 32 units. The loan amount for this asset is $11,100,000, and it is classified as a refinance.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $11,100,000
  • Loan Type: Refinance
  • Lender: Lument
  • Landlord: Ilan Goldstein
  • Brokers: Daniel Lerer - GFI Realty Services

Key individuals involved in the transaction include Ilan Goldstein, who serves as the landlord, and Daniel Lerer, representing the broker firm GFI Realty Services. Michael Weiser is also noted in the context alongside Daniel Lerer.

Players

Michael Weiser

GFI Realty Services

Broker

$515.2M

vol

34 deals

Broker
Lument
LumentLender

Ilan Goldstein

Landlord

$29.7M

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

1.43%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93