Graph Group signs $14.6M refi with Citibank for 2 properties in Brooklyn

Graph Group through the entity 132 Havemeyer St Owner LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $14.6 million for two properties with 29 residential units including the 16-unit mixed-use with retail building at 132 Havemeyer Street in Williamsburg, Brooklyn, and the 13-unit residential walkup building (C1) at 654 Park Place in Crown Heights, Brooklyn.
The deal closed on February 10, 2026 and was recorded on February 26, 2026. The prior lender was Santander Bank which held debt that had an original loan amount of $15.7 million.The three properties have 28,366 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $514 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 Graph Group was Avraham Kraus . The signatory for Citibank was Anna Gutteridge .

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 654 Park Place.

Prior sales, articles and revenue

The owner according to the Department of Housing Preservation and Development is Rene Rivera, head officer. The business entity is 654 Park Place Llc. Out of the three properties, one with a total of 28,366 square feet of built space generated revenue of $502,872 per year.

The property

The parcel has frontage of 31 feet and is 131 feet deep with a total lot size of 4,127 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $2.2 million. The property has 12 rent regulated units according to city tax records from 2024.

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 $530 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 654 Park Place, PincusCo has identified the owners of 20 of the 33 commercial properties representing 172,975 square feet of the 208,765 square feet. The largest owner is Klm Equities, followed by Gianluca Dispenza and then Zalmen Wagschal.
On the tax block, there was one new building construction project filed totaling 8,097 square feet. It is a eight-unit, 8,097 square-foot residential (R-2) building submitted by Aviv Ben Avi and filed by Aviv Ben Avi with plans filed June 6, 2025 and permitted December 30, 2025.

The majority, or 87 percent of the 208,765 square feet of built space are walkup buildings, with mixed-use buildings next occupying 13 percent of the space.

The borrower

The PincusCo database currently indicates that Graph Group owned at least 81 commercial properties with 635 residential units in New York City with 564,868 square feet and a city-determined market value of $115.8 million. (Market value is typically about 50% of actual value.) The portfolio has $117.6 million in debt, with top three lenders as Series 2018-SB46, JPMorgan Chase, and Popular Bank respectively. Within the portfolio, the bulk, or 77 percent of the 564,868 square feet of built space are walkup properties, with mixed-use properties next occupying 8 percent of the space. The bulk, or 98 percent of the built space, is in Brooklyn, with Queens next at 2 percent of the space.

Direct link to Acris document. link