Updated Oct 13, 2026
The Hakimian Organization Acquires Multifamily Property In Long Island For $32.3M
37-01 33rd St, Long Island City, NY 11101, USA
$32,280,000
$46/SF
Building Size
700,000 SF
Asset Type
MultiFamily
Closing
May 12, 2019
About this deal
AI
The multifamily property located at 33-01 38th Avenue in Long Island has been sold in a closed transaction. The property spans 70,000 square feet and was acquired by @TheHakimianOrganization. The transaction involved a loan amount of $32,280,000, which was provided by greystone''>Greystone. The deal has a term of 10 years.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,280,000
- Address: 33-01 38th Avenue
- Market: Long Island
The key individuals and companies involved in this transaction include Adam Hakimian, Avrom Forman, Eli Finkel, Jay Hakimian, and Jeff Weinberg. The deal was facilitated by broker Meridian Capital Group on behalf of @TheHakimianOrganization.
On the Map
$32,280,000
$46/SF
MultiFamily
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Players
Long Island City 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93