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244 Adelphi Street, Fort Gr...

244 Adelphi LLC Acquires Multi-Family Asset In Brooklyn, Fort Greene For $1.35M
FINANCEDMultiFamily

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

Danny Sassoon

Broker

$3.3M

vol

2 deals

Broker
Daniel Nadri

Daniel Nadri

Hakimian Capital

Lender

$249.7M

vol

15 deals

Lender
Hakimian Capital
Hakimian CapitalLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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