Hakimian Capital Provides $3.6M Construction Loan For East New York Hotel
FINANCED
$3,600,000
New York
See Similar DealsHotel21,277 SF
Financed 10/25/2021
FINANCED
Hakimian Capital Provides $3.6M Construction Loan For East New York Hotel
3294 Atlantic Avenue, Brooklyn, NY 11208, USA
See Similar DealsHotel21,277 SF
Financed 10/25/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$169
Total Square Footage:21,277 SF
Transaction Type:Loan
Located at 3294 Atlantic Avenue in East New York, this hotel property with a total area of 21,277 square feet and 61 keys recently underwent a closed transaction. The deal involved a construction loan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $3,600,000
- Address: 3294 Atlantic Avenue
- Market: East New York
- Square Footage: 21,277
- Number of Keys: 61
The lending for this transaction was provided by Hakimian Capital, specifically Sammy Hakimian, Daniel Nadri, and Michael Hakimian. Bamsag Builders, represented by Osher Niyazov, served as the landlord for this deal. The brokerage involved in this transaction was Leviathan Capital with Joe Hach as the broker.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,600,000.00
Monthly NOI$24,000.00
Monthly Debt Service$22,754.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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