Jacob Rosenberg Secures $35 Million Refinance Loan From Citibank For Multifamily Property In East Flatbush
406 Remsen Avenue
$35,000,000
$315/SF
Building Size
111,027 SF
Asset Type
MultiFamily
Closing
Jun 26, 2026
AI
The property asset involved in this transaction is a multifamily residential building located at 406 Remsen Avenue in East Flatbush, Brooklyn. The building comprises 95 units and has a total square footage of 111,027. Jacob Rosenberg, the landlord, secured a refinancing loan for this asset.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Lender: Citibank
- Previous Loan Amount: $27,500,000 from Popular Bank
- Loan Date: 06/26/2026
- Address: 406 Remsen Avenue
- Market: East Flatbush, Brooklyn
The key individuals involved in the refinancing deal include Jacob Rosenberg, who acted as the landlord, and Citibank, which provided the loan. This transaction serves to replace a previous loan facilitated by Popular Bank, demonstrating a significant financial restructuring for the property.
Players
Remsen 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93