Hakimian Capital Loans $28M For Construction Of Multifamily Property In Great Neck
733-741 Middle Neck Road
$28,000,000
$301/SF
Building Size
92,861 SF
Asset Type
MultiFamily
Closing
Oct 31, 2023
AI
The property at 733-741 Middle Neck Road in Great Neck has been involved in a loan transaction. The asset is a multifamily property with a total square footage of 92,861 and consists of 61 units. The loan amount for this transaction is $28,000,000, and it is categorized as a construction loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Address: 733-741 Middle Neck Road
- Market: Great Neck
- Square Footage: 92,861
- Number of Units: 61
The transaction lender is Hakimian Capital, represented by Sammy Hakimian, Michael Hakimian, and Daniel Nadri. They are the key individuals and companies involved in this loan deal.
Players
Great Neck 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93