Hakimian Capital Provides $15M Interest Only Loan For Williamsburg Hotel
156 North 12th Street, Brooklyn, NY 11249
$15,000,000
$598/SF
Building Size
25,059 SF
Asset Type
Hotel
Closing
Jul 22, 2020
AI
The hotel located at 156-164 North 12th Street in Williamsburg has been involved in a recent transaction. The loan for the property was provided by Daniel Nadri of Hakimian Capital for an amount of $15,000,000. The loan terms are interest-only. The property is owned by Empire Realty, represented by Ebi Khalili and Josh Rahmani.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $15,000,000
- Address: 156-164 North 12th Street
- Market: Williamsburg
Hakimian Capital, specializing in real estate loans ranging from $500K to $30MM, is the direct lender for this transaction. They can be contacted at 212-302-4066 or [email protected].
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93