AMAC signs $29M refi loan with Truist Bank for three properties in Clinton Hill

AMAC through the entity 250 Washington Stone LLC as borrower signed a refi loan with lender Truist Bank through the entity valued at $29 million for three properties with 78 residential units including the 27-unit residential walkup building (C1) at 260 Washington Avenue in Clinton Hill, Brooklyn, 35-unit residential elevator building (D2) at 309-311 Washington Avenue in Clinton Hill, Brooklyn, and 16-unit residential walkup building (C1) at 250 Washington Avenue in Clinton Hill, Brooklyn.
The deal closed on November 21, 2025 and was recorded on December 1, 2025. The prior lender was Flagstar Bank which held debt that had an original loan amount of $30 million.The three properties have 60,271 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $481 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for AMAC was Hamir Ramolia . AMAC, also known as Arbor Management Acquisition Company, is an affiliate of Ivan Kaufman’s Arbor Realty Trust.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 260 Washington Avenue.

Prior sales and revenue

The owner according to the Department of Housing Preservation and Development is Ilyas Julsaitov, head officer. The business entity is 260 Washington Stone Llc. The three properties with a total of 60,271 square feet of built space generated revenue of $3.2 million per year or $53 per square foot.

The property

The residential walkup building with 27 residential units in Clinton Hill has 60,271 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 75 feet and is 130 feet deep with a total lot size of 9,720 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The property is in the Clinton Hill Historic District. The city-designated market value for the property in 2022 is $6.5 million. The property has 6 rent regulated units according to city tax records from 2023.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $50 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 260 Washington Avenue, PincusCo has identified the owners of eight of the 18 commercial properties representing 170,482 square feet of the 214,414 square feet. The largest owner is A&E Real Estate Holdings, followed by Arbor Management Acquisition Company Aka Amac Holdings and then Danny Browne.
On the tax block, there were three new building construction projects totaling 12,162 square feet. The largest is a three-unit, 4,704 square-foot residential (R-2) building submitted by Aviv Ben Avi with plans filed January 29, 2024 and permitted June 25, 2025. The second largest is a one-unit, 3,729 square-foot residential (R-3) building submitted by Ariel Shalom with plans filed September 25, 2024 and permitted May 27, 2025.

The majority, or 49 percent of the 214,414 square feet of built space are elevator buildings, with walkup buildings next occupying 39 percent of the space.

The borrower

The PincusCo database currently indicates that Amac owned at least three commercial properties with 99 residential units in New York City with 89,523 square feet and a city-determined market value of $27.3 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 83 percent of the 89,523 square feet of built space are elevator properties, with walkup properties next occupying 17 percent of the space. They are all located in Manhattan.

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