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Hakimian Capital Provides $3.6M Acquisition Financing For East Village Multifamily

Property Image
FINANCED
$3,600,000

New York

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MultiFamily5,340 SF
Financed 11/22/2021
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Property Image
FINANCED

Hakimian Capital Provides $3.6M Acquisition Financing For East Village Multifamily

528 East 5th Street, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily5,340 SF
Financed 11/22/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$674
Total Square Footage:5,340 SF
Transaction Type:Loan

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.

Players

Hakimian Capital
Hakimian Capital
LENDER
Elliot Sohayegh
Elliot Sohayegh
10 deals$66.5M volume
LANDLORD
Elliot Sohayegh
Elliot Sohayegh
10 deals$66.5M volume
LANDLORD

Details

FINANCED
IMAGE: Sammy Hakimian, Michael Hakimian & Daniel Nadri DATE: 11/22/2021 ADDRESS: 528 East 5th Street MARKET: East Village ASSET TYPE: Multifamily ~ SF: 5,340 ~ UNITS: 7 LENDER: Hakimian Capital (@HakimianCapital) - Sammy Hakimian (@SammyHak), Daniel Nadri & Michael Hakimian (@MichaelHakimian) LANDLORD: Elliot Sohayegh LOAN AMOUNT: $3,600,000 LOAN TYPE: Acquisition NOTE: Hakimian Capital provided acquisition financing for a TOE acquisition. Hakimian Capital was able to fund the loan within 8 days from receiving the file. All due diligence & underwriting was conducted in-house, saving the Borrower from paying unnecessary 3rd party fees.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,600,000.00

Monthly NOI$24,000.00
Monthly Debt Service$22,754.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00