Hakimian Capital Provides $8M Loan For Lower East Side Development Site

The development site located at 61-63 Pitt Street in the Lower East Side has undergone a recent transaction. The loan for the acquisition of the property was provided by Hakimian Capital, a lending company. The loan amount secured for this transaction was $8,000,000, and it was funded in less than 2 weeks. The site spans a total built square footage (BSF) of 40,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,000,000
• Address: 61-63 Pitt Street
• Market: Lower East Side
• Lender: Hakimian Capital

In addition to Hakimian Capital, Damien Smith is the landlord of the property. Smith's involvement in the transaction is significant, as the property will now be under their ownership or management.