Joseph Brunner signs $52M refi with PGIM for 55-unit rental in Williamsburg

Joseph Brunner of Bruman Realty through the entity Wythe Owner LLC as borrower signed a refi loan with lender PGIM Real Estate through the entity The Prudential Insurance Company Of America valued at $52 million for the 55-unit residential elevator building (D6) at 296 Wythe Avenue in Williamsburg, Brooklyn.

This is a newly constructed building. Joseph Brunner filed the plans, 321599105, for a new building on December 1, 2020 and the city permitted it February 16, 2022.
The deal closed on October 31, 2025 and was recorded on November 6, 2025. The prior lender was Deutsche Bank which held debt that had an original loan amount of $57.5 million.The property has 84,145 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $617 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 November 6, 2015, for $26.5 million. The signatory for Joseph Brunner was Joseph Brunner. The signatory for PGIM Real Estate was Justin Levitt .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Joseph Brunner, head officer and Abe Mandel, officer. The business entities are Wythe Owner Llc and Wythe Owner Llc. The 84,145-square-foot property generated revenue of $3.3 million or $39 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 55 residential units in Williamsburg has 84,145 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 250 feet and is 85 feet deep with a total lot size of 15,985 square feet. The lot is irregular. The zoning is M1-2/R6A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 3 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $20.7 million.

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.

The block

On this tax block, PincusCo has identified the owners of seven of the 16 commercial properties representing 143,761 square feet of the 193,650 square feet. The largest owner is Reda Holdings, followed by Dax Real Estate and then Joseph Lentini.
On the tax block, there were three new building construction projects totaling 140,147 square feet. The largest is a 45-unit, 51,398 square-foot residential (R-2) building submitted by Bruman Realty and filed by Moshe Braver with plans filed December 1, 2020 and permitted February 16, 2022. The second largest is a 55-unit, 50,629 square-foot residential (R-2) building submitted by Bruman Realty and filed by Moshe Braver with plans filed September 11, 2015 and permitted December 14, 2015.

The majority, or 60 percent of the 193,650 square feet of built space are elevator buildings, with mixed-use buildings next occupying 22 percent of the space.

The borrower

The PincusCo database currently indicates that Joseph Brunner owned at least eight commercial properties with 190 residential units in New York City with 191,171 square feet and a city-determined market value of $39.7 million. (Market value is typically about 50% of actual value.) The portfolio has $164.2 million in debt, with top three lenders as Starwood Mortgage Capital, Basis Investment Group, and Parke Bank respectively. Within the portfolio, the bulk, or 79 percent of the 191,171 square feet of built space are elevator properties, with walkup properties next occupying 8 percent of the space. The bulk, or 94 percent of the built space, is in Brooklyn, with Manhattan next at 6 percent of the space.

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