244 Adelphi LLC Acquires Multi-Family Asset In Brooklyn, Fort Greene For $1.35M
244 Adelphi Street, Fort Greene, Brooklyn, NY, USA
$1,350,000
$432/SF
Building Size
3,120 SF
Asset Type
MultiFamily
Closing
May 15, 2019
AI
The multi-family property located at 244 Adelphi Street in Brooklyn's Fort Greene neighborhood has been involved in a recent loan transaction. The loan, arranged by Hakimian Capital, was provided to 244 Adelphi LLC. The borrower, Uche Alozie, secured a loan amount of $1,350,000. The property spans a total of 3,120 square feet.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $1,350,000
- Address: 244 Adelphi Street
- Market: Brooklyn, Fort Greene
Danny Sassoon, representing the borrower, played a key role in facilitating the loan. Hakimian Capital, led by Sammy Hakimian, Daniel Nadri, and Michael Hakimian, acted as the direct lender in this transaction. Hakimian Capital specializes in providing quick, convenient, and reliable financing solutions for small to mid-balance commercial real estate loans in the New York boroughs.
Players
New York 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
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93