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Hakimian Capital Provides $9M Acquisition Loan For Bushwick Multifamily

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FINANCED
$9,000,000

New York

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MultiFamily61,356 SF
Financed 05/07/2024
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Property Image
FINANCED

Hakimian Capital Provides $9M Acquisition Loan For Bushwick Multifamily

70 Wyckoff Avenue

See Similar Deals
MultiFamily61,356 SF
Financed 05/07/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$146
Total Square Footage:61,356 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Sammy Hakimian, Michael Hakimian & Daniel Nadri DATE: 05/07/2024 ADDRESS: 70 Wyckoff Avenue MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily ~ SF: 61,356 ~ UNITS: 50 LENDER: Sammy Hakimian (@SammyHak), Michael Hakimian (@MichaelHakimian) & Daniel Nadri - Hakimian Capital (@HakimianCapital) LOAN AMOUNT: $9,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,000,000.00

Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00