Aurora, A&H, Midtown Equities sign $40M refi for mixed-use in Boerum Hill, had faced foreclosure

Aurora Capital Associates, A&H Acquisitions and Midtown Equities through the entity CAC Atlantic LLC as borrower signed a refi loan with lender Webster Bank valued at $40 million for the 74-unit mixed-use building at 239 Atlantic Avenue in Boerum Hill, Brooklyn. The building is divided into a residential condominium unit and a retail condo unit. The prior lender Wells Fargo filed a pre-foreclosure action in 2025. That case has not been terminated, according to a review of state court records, but will likely be discontinued as a result of the refinance.
The deal closed on January 23, 2026 and was recorded on March 2, 2026. The prior lender was Wells Fargo which held debt that had an original loan amount of $50 million. The two properties have 124,534 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $321 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 Aurora Capital Associates and A&H Acquisitions was Robert Cayre. The signatory for Webster Bank was Adam Brenner .

The property

The rental condo with 74 residential units in Boerum Hill has 124,534 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 74,678 square feet. The city-designated market value for the property in 2022 is $27.1 million.

Violations and lawsuits

The properties were involved in one lawsuit over the past two years. The suit was a $60 million commercial foreclosure, 505058/2025, concerning a loan filed on February 11, 2025, by Wells Fargo against Aurora Capital Associates, A&H Acquisitions, Midtown Equities, Robert Cayre, Harry Adjmi, and Joseph Cayre. In addition, according to city public data, the properties have not received any significant violations 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

There are no active new building construction projects on this tax block.

The borrower

The PincusCo database currently indicates that Aurora Capital Associates owned at least 24 commercial properties with 144 residential units in New York City with 1,787,691 square feet and a city-determined market value of $762.2 million. (Market value is typically about 50% of actual value.) The portfolio has $529.7 million in debt, with top three lenders as Deutsche Pfandbriefbank, Apollo Global Management, and Webster Bank respectively. Within the portfolio, the bulk, or 41 percent of the 1,787,691 square feet of built space are office properties, with retail properties next occupying 36 percent of the space. The bulk, or 70 percent of the built space, is in Manhattan, with Brooklyn next at 23 percent of the space.
The PincusCo database currently indicates that A&H Acquisitions owned at least eight commercial properties in New York City with 425,941 square feet and a city-determined market value of $169.2 million. (Market value is typically about 50% of actual value.) The portfolio has $37.4 million in debt, with top three lenders as Flushing Bank, Metropolitan Commercial Bank, and Customers Bank respectively. Within the portfolio, the bulk, or 46 percent of the 425,941 square feet of built space are office properties, with retail properties next occupying 41 percent of the space. The bulk, or 46 percent of the built space, is in Manhattan, with Bronx next at 29 percent of the space.

Direct link to Acris document. link