Michael Gendin Lands $5 Million Construction Loan For Development Site At 11 5th Street

The property asset involved is a development site located at 11 5th Street in Brooklyn, featuring a building square footage of 13,200. The loan amount secured for this property is $5,000,000, classified as a construction loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,000,000
• Asset Address: 11 5th Street
• Market: Brooklyn
• Lender: Michael Hakimian, Sammy Hakimian & Daniel Nadri - Hakimian Capital
• Landlord: Michael Gendin - 11 Fifth
• Loan Type: Construction

The deal involves key individuals representing the lending entity and the landlord. Michael Hakimian, Sammy Hakimian, and Daniel Nadri are associated with Hakimian Capital, while Michael Gendin represents the landlord entity known as 11 Fifth.