Updated Oct 29, 2024
Hakimian Capital Provides $2.1M Bridge To Sale Loan For West Harlem Multifamily
535 Manhattan Ave, New York, NY 10027, USA
$2,100,000
$63/SF
Building Size
32,930 SF
Asset Type
MultiFamily
Closing
Feb 4, 2020
About this deal
AI
A multifamily property located at 535 Manhattan Avenue in West Harlem has been sold in a closed transaction. The property spans 3,293 square feet and consists of 3 units. The deal was facilitated by Sammy Hakimian, Daniel Nadri, and Michael Hakimian.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Address: 535 Manhattan Avenue
- Market: West Harlem
The loan for this transaction was provided by Hakimian Capital, a direct lender. The loan amount was $2,100,000, with terms of a 1-year bridge to sale. It is important to note that there is no prepayment penalty associated with this loan. The landlord of the property is Kew Politan, represented by Daniel Kimia.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93