P7 Development Secures $47.25 Million Construction Loan From Acres Capital For Multifamily Asset In Hicksville
76 North Broadway
$47,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 30, 2025
AI
The property involved in this transaction is a multifamily asset located at 76-82 North Broadway in Hicksville, comprising 104 units. The loan amount for this project is $47,250,000, provided by Acres Capital for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $47,250,000
- Asset Address: 76-82 North Broadway
- Market: Hicksville
- Lender: Acres Capital
- Landlord: P7 Development
- Brokers: James Murad, Adam Hakim, Michael Winter, Alexander Korolik, and Evan Brudnicki - Ripco
- Units: 104
- Loan Type: Construction
The individuals involved in this transaction include brokers James Murad, Adam Hakim, Michael Winter, Alexander Korolik, and Evan Brudnicki, all representing Ripco. The landlords of the property are identified as P7 Development, with the loan provided to facilitate construction activities on site.
Players
Hicksville 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93