Twin Group Associates signs $63M refi with MF1 for 110-unit rental in Downtown Brooklyn

Solomon Schwimmer’s Twin Group Associates through the entity Lawrence Heights Holdings LLC as borrower signed a refi loan with lender MF1 Capital through the entity Mf1 Capital LLC valued at $63 million for the 110-unit residential elevator building (D6) at 150 Lawrence Street in Downtown Brooklyn, Brooklyn.
The deal closed on November 19, 2025 and was recorded on December 1, 2025. The prior lenders were Ponce Bank and EastAlliance which held debt that had an original loan amount of $63 million.

On the lot, there was a new building construction project, B00805143, for a new residential (R-2) building. The project was submitted by Solomon Schwimmer and filed by Solomon Schwimmer with plans filed May 25, 2023 and permitted December 8, 2023.

The property has 94,435 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $667 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 February 16, 2023, for $22.5 million. The signatory for Twin Group Associates was Solomon Schwimmer . The signatory for MF1 Capital was Jonathan Pfeil .

The property

The residential elevator building with 110 residential units in Downtown Brooklyn has 94,435 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 64 feet and is 100 feet deep with a total lot size of 5,891 square feet. The lot is irregular. The zoning is C6-4.5 which allows for up to 12 times floor area ratio (FAR) for commercial The city-designated market value for the property in 2022 is $736,000.

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 received $3,750 in ECB penalties and $6,190 in OATH penalties in the last year.

The block

On this tax block, PincusCo has identified the owners of 18 of the 22 commercial properties representing 121,073 square feet of the 136,044 square feet. The largest owner is United American Land, followed by Solomon Schwimmer and then Wharton Properties.
On the tax block, there were two new building construction projects totaling 90,714 square feet. The largest is a 101-unit, 82,366 square-foot residential (R-2) building submitted by Solomon Schwimmer and filed by Solomon Schwimmer with plans filed May 25, 2023 and permitted December 8, 2023. The second largest is a 8,348 square-foot mercantile (M) building submitted by Albert Laboz with plans filed January 7, 2020 and permitted April 21, 2021.

The majority, or 89 percent of the 136,044 square feet of built space are mixed-use buildings, with retail buildings next occupying 11 percent of the space.

The borrower

The PincusCo database currently indicates that Twin Group Associates owned at least four commercial properties with 27 residential units in New York City with 26,148 square feet and a city-determined market value of $6.6 million. (Market value is typically about 50% of actual value.) The portfolio has $17.8 million in debt, borrowed from A&E Real Estate Holdings and Grasshopper Bank. Within the portfolio, the bulk, or 80 percent of the 26,148 square feet of built space are retail properties, with walkup properties next occupying 20 percent of the space. The bulk, or 80 percent of the built space, is in Bronx, with Brooklyn next at 20 percent of the space.

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