Solomon Schwimmer signs $6.3M refi with Sabal Capital for two rentals in Prospect Lefferts Gardens

Solomon Schwimmer through the entity Hawthorne Brothers LLC as borrower signed a refi loan with lender Sabal Capital through the entity Sabal Capital II, LLC, valued at $6.3 million for two rentals including the eight-unit rental (C1) at 192 Hawthorne Street in Prospect Lefferts Gardens, Brooklyn and eight-unit rental (C1) at 194 Hawthorne Street in Prospect Lefferts Gardens, Brooklyn.
The deal closed on October 29, 2021 and was recorded on November 5, 2021.
The two properties have 15,880 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $396 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 Solomon Schwimmer was Solomon Schwimmer.
(321114147)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 8 residential units on November 23, 2016. (321115379) Plans for an 8-unit, 5,794 square-foot R-2 were filed on April 23, 2015 and were permitted on March 15, 2016.
The owners according to the Department of Housing Preservation and Development includes Solomon Schwimmer, head officer and Shimshy Braver, site manager. The business entity is Hawthorne Brothers Llc.

Within a 400-foot radius of 192 Hawthorne Street, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, one was in new building development. It was a new building permit application filed on December 17, 2019 for a 18,413-square-foot R-2 building with 22 residential units at 151 Hawthorne Street.
Of those three items, two were loans above $5 million totaling $14 million. The most recent of the two was Steven Fishman which borrowed $5.2 million from Arbor Realty Trust secured by the 5,670-square-foot, six-unit rental (C2) on 609 Rogers Avenue and two other properties on April 30, 2021.

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