Updated Oct 25, 2024
Hakimian Capital Provides $3.6M Acquisition Financing For East Village Multifamily
528 East 5th Street, Manhattan, New York, NY, USA
$3,600,000
$674/SF
Building Size
5,340 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
The multifamily property located at 528 East 5th Street in the East Village was recently involved in a loan transaction. The property spans approximately 5,340 square feet and consists of 7 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Address: 528 East 5th Street
- Market: East Village
- Loan Type: Acquisition
Hakimian Capital, represented by Sammy Hakimian, Daniel Nadri, and Michael Hakimian, provided the acquisition financing for this property. Elliot Sohayegh is the landlord. The loan amount of $3,600,000 was swiftly funded by Hakimian Capital within 8 days of receiving the file. All due diligence and underwriting processes were carried out in-house by Hakimian Capital, eliminating the need for the borrower to incur unnecessary third-party fees.
On the Map
$3,600,000
$674/SF
MultiFamily
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Players
Brooklyn 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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93