Joseph Heimann's Bsd Suites LLC Refinances 500 DeKalb Avenue Office In Bedford Stuyvesant For $25M
500 Dekalb Avenue
$25,000,000
$445/SF
Building Size
56,112 SF
Asset Type
Office
Closing
Aug 28, 2026
About this deal
AI
The property asset involved in this transaction is an office building located at 500 DeKalb Avenue in Bedford Stuyvesant, Brooklyn. The asset encompasses a total square footage of 56,112 and has undergone a refinancing transaction with a loan amount of $25,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $25,000,000
- Loan Type: Refinance
- Address: 500 DeKalb Avenue
- Market: Bedford Stuyvesant, Brooklyn
- Lender: OptimumBank
- Landlord: Joseph Heimann
This refinancing was executed by Joseph Heimann’s Bsd Suites LLC, which replaced $24.6 million of debt previously held with Vernon Capital Funding. This indicates a restructuring of existing financial obligations related to the property.
On the Map
$25,000,000
$445/SF
Office
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Players
Avenue Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93