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156 North 12th Street, Broo...

Hakimian Capital Provides $15M Interest Only Loan For Williamsburg Hotel
FINANCEDHotel

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

Hakimian Capital
Hakimian CapitalLender

Josh Rahmani

Landlord

$948.1M

vol

9 deals

Landlord
Empire Capital Holdings
Empire Capital HoldingsLandlord

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