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479 Atlantic Avenue, Brookl...

Hakimian Capital Provides $2.2M Acquisition Loan For Mixed-Use Property In Boerum Hill
FINANCEDMixed-use

Hakimian Capital Provides $2.2M Acquisition Loan For Mixed-Use Property In Boerum Hill

479 Atlantic Avenue, Brooklyn, New York 11217, United States

$2,200,000

$687/SF

Building Size

3,200 SF

Asset Type

Mixed-use

Closing

Jun 1, 2022

AI

The mixed-use property located at 479 Atlantic Ave. in Boerum Hill has recently undergone an acquisition. The property spans approximately 3,900 square feet and is situated in a prime market area.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Address: 479 Atlantic Ave.
  • Market: Boerum Hill

Hakimian Capital, represented by Sammy Hakimian, Daniel Nadri, and Michael Hakimian, provided a loan of $2,200,000 for the acquisition. The loan was secured by the property. The landlord for this transaction is Garrett Wittels.

Players

Adam Lobel

Investment Property Realty Group (IPRG)

Broker

$602.2M

vol

141 deals

Broker
Gabriel Kates
Verified Badge

Gabriel Kates

Block Real Estate Group

Broker

$158.4M

vol

59 deals

Broker
Hakimian Capital
Hakimian CapitalLender

Garrett Wittels

Landlord

$13.6M

vol

3 deals

Landlord

New York 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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93