Updated Nov 20, 2025
Hakimian Capital Provides $14.75 Million Loan For Brooklyn Multifamily Acquisition And Construction
166 South 2nd Street, 55 Withers Street, 148 Conselyea Street, 208 Irving Avenue, 785 Franklin Avenue & 197 Meserole Street
$14,750,000
$484/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Oct 30, 2025
About this deal
AI
A multifamily asset located at 166 South 2nd Street, 55 Withers Street, 148 Conselyea Street, 208 Irving Avenue, 785 Franklin Avenue & 197 Meserole Street has been involved in a transaction. The total square footage of the property is 30,525, comprising 30 residential units. The market for this asset is situated in Brooklyn.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,750,000
- Loan Type: Acquisition + construction
- Lender: Hakimian Capital
The deal involves individuals Sammy Hakimian, Michael Hakimian, and Daniel Nadri representing the lender in this transaction, showcasing their role in facilitating the loan agreement.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93