Daten Group signs $59M refi with JLL for 135-unit rental in Clinton Hill

Daten Group through the entity Cad Waverly LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital, LLC valued at $59 million for the 135-unit residential elevator building (D6) at 540 Waverly Avenue in Clinton Hill, Brooklyn.
The deal closed on January 13, 2026 and was recorded on January 22, 2026. The prior lender was H.I.G. Capital which held debt that had an original loan amount of $46.9 million.The property has 119,312 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $494 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 owner bought the property on December 18, 2019, for $17.2 million. The signatory for Daten Group was David Ennis . The signatory for JLL was Patrick McCarren.

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes David Ennis, head officer and Stephanie Knight, agent. The business entities are Choice New York Management and Cad Waverly Llc. The 119,312-square-foot property generated revenue of $4.3 million or $36 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 135 residential units in Clinton Hill has 119,312 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 219 feet and is 218 feet deep with a total lot size of 23,754 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $25.7 million. The property has 42 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on March 7, 2025. 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 this tax block, PincusCo has identified the owners of five of the 11 commercial properties representing 187,157 square feet of the 286,408 square feet. The largest owner is Daten Group, followed by Larry Malitzky and then Michael Biton.
There are no active new building construction projects on this tax block.

The majority, or 59 percent of the 286,408 square feet of built space are elevator buildings, with specialty buildings next occupying 26 percent of the space.

The borrower

The PincusCo database currently indicates that Daten Group owned at least three commercial properties with 174 residential units in New York City with 182,982 square feet and a city-determined market value of $22.9 million. (Market value is typically about 50% of actual value.) The portfolio has $152.4 million in debt, with top three lenders as H.I.G. Capital, Mack Real Estate Group, and SL Green Realty respectively. Within the portfolio, the bulk, or 86 percent of the 182,982 square feet of built space are elevator properties, with mixed-use properties next occupying 14 percent of the space. The bulk, or 86 percent of the built space, is in Brooklyn, with Manhattan next at 14 percent of the space.

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