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
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