Michael Hakimian Of Hakimian Capital Acquires Mixed-Use Building In Mott Haven For $5M

A mixed-use asset located at 231 Brook Avenue in the Mott Haven neighborhood of the Bronx was sold. The property consists of 32 residential units and spans a total of 25,460 square feet, with a price per unit of $156,250 and a price per square foot of $196. The sale was concluded for $5,000,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $5,000,000
• Buyer: Michael Hakimian - Hakimian Capital
• Seller: Delfino Velez
• Units: 32
• Square Footage: 25,460
• Price Per Unit: $156,250
• Price Per Square Foot: $196
• Market: Mott Haven, Bronx

The transaction was a bankruptcy sale, with Hakimian Capital gaining control of the property after purchasing the debt associated with it in 2022. This acquisition involved a walkup building that reflects a strategic move by the buyer in the market.