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733-741 Middle Neck Road

Hakimian Capital Loans $28M For Construction Of Multifamily Property In Great Neck
FINANCEDMultiFamily

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

Daniel Nadri

Hakimian Capital

Lender

$232.9M

vol

13 deals

Lender
Hakimian Capital
Hakimian CapitalLender

Great Neck MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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