Pouya Toobian Acquires The Andrew Hotel In Great Neck With $10.5M Acquisition Loan
75 North Station Plaza
$10,500,000
Building Size
—
Asset Type
Hotel
Closing
Sep 9, 2026
About this deal
AI
The Andrew Hotel is a 61-room boutique hotel located at 75 North Station Plaza in Great Neck. This mixed-use property also includes approximately 10,000 square feet of retail space, which is anchored by the local favorite, Colbeh.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $10,500,000
- Lender: Michael Hakimian, Sammy Hakimian & Daniel Nadri - Hakimian Capital
- Borrower: Pouya Toobian - 75 North Station Plaza
- Loan Type: Acquisition
- Date: 09/09/2026
Hakimian Capital provided a first-mortgage acquisition bridge loan for the property. The loan was essential for the borrower, Pouya Toobian, in securing the asset. Notably, the deal was facilitated through the expertise of the Hakimian team.
On the Map
$10,500,000
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93