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
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