Updated Dec 14, 2024
Hakimian Capital Provides $3M Loan For Development Site In Mill Basin Brooklyn
2657 East 66th Street, Brooklyn, NY 11234, USA
$3,000,000
$71/SF
Building Size
42,020 SF
Asset Type
Development Site
Closing
Jul 27, 2020
About this deal
AI
A development site located at 2657 East 66th Street in Mill Basin, Brooklyn has been involved in a closed transaction. The property is a development site with a building square footage (BSF) of 42,020.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Market: Mill Basin, Brooklyn
Hakimian Capital, represented by Daniel Nadri, Michael Hakimian, and Sammy Hakimian, provided a loan of $3,000,000 for the subject property. The loan was granted to an experienced and repeat client who plans to develop the site into six waterfront homes. For more information, you can contact Hakimian Capital at 212.302.4066 or via email at [email protected].
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93