A $1.749M Brooklyn mortgage shows as $1.749B in city records

A buyer paid $2.2M for a lot at 912 Herkimer Street in Brooklyn and signed $7.3M in mortgages with BD Capital SE LLC, on a site where a 15-unit new building is already filed. The city record also lists one of the loan documents at $1.749B, a figure the paperwork around it does not support.

Why it matters

For a developer, the useful signal is the capital stack: lenders put $3.3 dollars of debt on every dollar of land price here. The $1.749B line is almost certainly a keying error, and anyone pulling ACRIS amounts in bulk will count it as a billion-dollar deal unless they check the companion documents.

The numbers

The deed (doc 2026091600748001) moves the property from the Viola B. Kelly Irrevocable Living Trust to 912 Herkimer Residences LLC for $2,200,000. It is dated Sept. 15 and was recorded Sept. 18.

Four loan documents were recorded the same day. One mortgage is $1,749,000 (doc 2026091600748002). Its assignment of leases and rents (doc 2026091600748003) is recorded at $1,749,000,000, exactly 1,000 times larger. A second mortgage is $5,565,603 (doc 2026091600748004), and its assignment (doc 2026091600748005) matches it to the dollar. Together the two mortgages total $7,314,603. A seller-side mortgage satisfaction (doc 2026091600748007) was recorded the same day.

DOB NOW job B01403349-I1, a new building of four stories and 15 dwelling units with 17,667 sq ft of floor area, was filed May 18, 2026, 120 days before the deed date. The owner listed on the filing is Accrete Construction Group. The price is about $125 per sq ft of proposed floor area, $146,667 per planned unit; that is a land-plus-entitlement measure, not a building price. The mortgages work out to roughly $487,640 per planned unit.

What’s next

Watch for a corrected or amended assignment at the City Register and for permit approval, since the job still shows objections. The record does not say how the two loans split between acquisition and construction. See more deals in New York.