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70 Wyckoff Avenue

Hakimian Capital Provides $9M Acquisition Loan For Bushwick Multifamily
FINANCEDMultiFamily

Hakimian Capital Provides $9M Acquisition Loan For Bushwick Multifamily

70 Wyckoff Avenue

$9,000,000

$146/SF

Building Size

61,356 SF

Asset Type

MultiFamily

Closing

May 7, 2024

AI

The multifamily property located at 70 Wyckoff Avenue in Bushwick, Brooklyn spans 61,356 square feet and consists of 50 units. The loan for the acquisition of this property was secured from Hakimian Capital, with Sammy Hakimian, Michael Hakimian, and Daniel Nadri as the lenders, amounting to $9,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,000,000
  • Address: 70 Wyckoff Avenue
  • Market: Bushwick, Brooklyn
  • Asset Type: Multifamily
  • Square Footage: 61,356
  • Units: 50
  • Lender: Sammy Hakimian, Michael Hakimian & Daniel Nadri - Hakimian Capital
  • Loan Type: Acquisition

Sammy Hakimian, Michael Hakimian, and Daniel Nadri from Hakimian Capital played a crucial role in facilitating the loan for the acquisition of the multifamily property at 70 Wyckoff Avenue. The involvement of these key individuals highlights the collaborative effort that led to the successful completion of this real estate transaction.

Players

Hakimian Capital
Hakimian CapitalLender

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

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93