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P7 Development Secures $47.25 Million Construction Loan From Acres Capital For Multifamily Asset In Hicksville

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FINANCED
$47,250,000
Adam Hakim
+ 2

New York

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MultiFamily
Financed
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Property Image
FINANCED

P7 Development Secures $47.25 Million Construction Loan From Acres Capital For Multifamily Asset In Hicksville

76 North Broadway

See Similar Deals
MultiFamily
Financed
Adam Hakim
+ 2
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

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:

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

James Murad
62 deals$2.9B volume(646) 290-2012
BROKER

Adam Hakim
Ripco
60 deals$2.9B volume(646) 290-2011
BROKER


Alexander (Xander) Korolik
Ripco
9 deals$439M volume(917) 846-9143
BROKER

Evan Brudnicki
Ripco
9 deals$439M volume(212) 750-6565
BROKER

Ripco
BROKERAGE

Details

FINANCED
IMAGE: Adam Hakim, James Murad, Michael Winter, Evan Brudnicki & Alexander Korolik DATE: 10/1/2025 ADDRESS: 76-82 North Broadway MARKET: Hicksville ASSET TYPE: Multifamily ~ UNITS: 104 LENDER: Acres Capital LANDLORD: P7 Development BROKERS: James Murad (@James_Murad), Adam Hakim, Michael Winter, Alexander Korolik (@XanderKorolik) & Evan Brudnicki (@Evan_Brudnicki) - Ripco (@RipcoRealEstate) LOAN AMOUNT: $47,250,000 LOAN TYPE: Construction LOAN TERMS: N/A

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,250,000.00

Monthly NOI$315,000.00
Monthly Debt Service$298,652.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00