Hakimian Capital Loans $1.9M For Acquisition Of Mixed-use Property On Bushwick Avenue
375 Bushwick Avenue
$1,900,000
$235/SF
Building Size
8,060 SF
Asset Type
Mixed-use
Closing
Oct 20, 2023
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 375 Bushwick Avenue in East Williamsburg. The property has a total square footage of 8,060 and is situated in a prime market area.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,900,000
- Address: 375 Bushwick Avenue
- Market: East Williamsburg
- Lender: Hakimian Capital
- Loan Type: Acquisition
Hakimian Capital served as the lender for this transaction. The loan provided amounted to $1,900,000 and was used for the acquisition of the property. The deal involved the collaboration of Sammy Hakimian, Michael Hakimian, and Daniel Nadri.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93