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
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