Mordechai Adler Secures $26.5 Million Refinance From Popular Bank For Office Building In Brooklyn
646 Parkside Avenue
$26,500,000
Building Size
—
Asset Type
Office
Closing
Sep 22, 2026
About this deal
AI
The property asset involved in this transaction is an office building located at 646 Parkside Avenue in Prospect Lefferts Gardens, Brooklyn. The building encompasses 31,600 square feet and was refinanced for a total amount of $26,500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,500,000
- Address: 646 Parkside Avenue
- Market: Prospect Lefferts Gardens, Brooklyn
- Lender: Popular Bank
- Landlord: Mordechai Adler
- Loan Type: Refinance
Mordechai Adler, through 646 Parkside Avenue LLC, secured the refinancing for the property, facilitating the management and financial operations associated with the office building at the specified address.
On the Map
$26,500,000
Office
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Players
Brooklyn Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93