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Hakimian Capital Provides $8.45M Bridge Loan For Brooklyn Multifamily Acquisition

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FINANCED
$8,450,000

New York

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MultiFamily18,125 SF
Financed 11/04/2021
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Property Image
FINANCED

Hakimian Capital Provides $8.45M Bridge Loan For Brooklyn Multifamily Acquisition

195 Meserole Street, Brooklyn, NY, USA

See Similar Deals
MultiFamily18,125 SF
Financed 11/04/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$466
Total Square Footage:18,125 SF
Transaction Type:Loan

The multifamily property located at 195 Meserole Street, 196 Bergen Street, 390 Seneca Ave., and 215 Montrose Ave. in Brooklyn was involved in a recent transaction. The property spans a total square footage of 18,125 and falls under the asset type of Multifamily.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,450,000
  • Market: Brooklyn
  • Lender: Hakimian Capital - Sammy Hakimian, Daniel Nadri, and Michael Hakimian
  • Landlord: Eden Ashourzadeh
  • Loan Type: Bridge loan

Hakimian Capital, represented by Sammy Hakimian, Daniel Nadri, and Michael Hakimian, provided a bridge loan for the acquisition and renovation of the property. As a longtime repeat client, the borrower chose Hakimian Capital for their surety of execution and streamlined process. The lender conducted all due diligence and underwriting in-house, saving the borrower from paying unnecessary third-party fees.

Players

LENDER

37 deals$116.7M volume
LANDLORD

37 deals$116.7M volume
LANDLORD

Details

FINANCED
IMAGE: Sammy Hakimian, Michael Hakimian & Daniel Nadri DATE: 11/04/2021 ADDRESS: 195 Meserole Street, 196 Bergen Street, 390 Seneca Ave. & 215 Montrose Ave. MARKET: Brooklyn ASSET TYPE: Multifamily ~ SF: 18,125 LENDER: Hakimian Capital (@HakimianCapital) - Sammy Hakimian (@SammyHak), Daniel Nadri & Michael Hakimian (@MichaelHakimian) LANDLORD: Eden Ashourzadeh LOAN AMOUNT: $8,450,000 LOAN TYPE: Bridge loan NOTE FROM @HakimianCapital: Hakimian Capital provided acquisition + renovations loans for a longtime repeat client who turns to Hakimian Capital for its surety of execution as well as the streamlined process. Hakimian Capital conducted all due diligence & underwriting in-house, saving the Borrower from paying unnecessary 3rd party fees.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,450,000.00

Monthly NOI$56,333.33
Monthly Debt Service$53,409.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00