Refsnyder, once a valued prospect with excellent bat-to-balls skills, had to be traded or put on waivers as part of the 40-man shakeup following the Yankees' trade with the White Sox.
The Toronto Blue Jays have struggled to produce at second base all year, but help is on the way.
The left-handed McBroom adds more first base depth to the Yankees' farm system.
The 25-year-old McBroom has yet to make his big league debut while failing to even surpass the Double-A level as it stands today.
Prior to the deal, Refsnyder slashed.312/.390/.464 in 159 plate appearances (38 games) this year for the New Hampshire Fisher Cats.
Once seen as a future offensive standout for the Bronx Bombers, Refsynder's offense also faltered in 2017, getting just five hits in 40 plate appearances at the major league level for NY.
McBroom did not appear in the lineup on Sunday against Trenton, New York's Double-A affiliate.