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The Hakimian Organization Acquires Multifamily Property In Long Island For $32.3M

Property Image
FINANCED
$32,280,000

New York

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MultiFamily700,000 SF
Financed 05/13/2019
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FINANCED

The Hakimian Organization Acquires Multifamily Property In Long Island For $32.3M

37-01 33rd St, Long Island City, NY 11101, USA

See Similar Deals
MultiFamily700,000 SF
Financed 05/13/2019
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$46
Total Square Footage:700,000 SF
Transaction Type:Loan

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.

Players

Greystone
Greystone
LENDER
TO
The Hakimian Organization
LANDLORD

Details

FINANCED
IMAGE: Adam Hakimian (@AdamHak1), Avrom Forman, Eli Finkel, Jay Hakimian, Jeff Weinberg DATE: 05/13/2019 ADDRESS: 33-01 38th Avenue MARKET: Long Island ASSET TYPE: Multifamily LOAN AMOUNT: $32,280,000 SF: 70,000 TERM: 10 years LENDER: Greystone LANDLORD: @TheHakimianOrganization BROKER: @Meridian.Capital.Group QUOTE: “It’s very gratifying to help a client obtain an outcome that they may not have thought […]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,280,000.00

Monthly NOI$215,200.00
Monthly Debt Service$204,031.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00