Michael And Sammy Hakimian Landlord Secures $15M Refinance Loan From Preferred Bank In Riverhead
FINANCED
$15,000,000
New York
See Similar DealsRetail113,791 SF
Financed 03/13/2025
FINANCED
Michael And Sammy Hakimian Landlord Secures $15M Refinance Loan From Preferred Bank In Riverhead
1087 Old Country Road
See Similar DealsRetail113,791 SF
Financed 03/13/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$131
Total Square Footage:113,791 SF
Transaction Type:Loan
The asset involves a retail property located at 1087 Old Country Road, situated in Riverhead. The property was refinanced with a loan amounting to $15,000,000.00, facilitated by Preferred Bank.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,000,000.00
- Lender: Preferred Bank
- Landlord: Michael and Sammy Hakimian
- Loan Type: Refinance
- Date of Transaction: 03/13/2025
Key individuals involved in the transaction include Michael and Sammy Hakimian, who are the landlords of the property. For creative financing solutions related to this deal, Kevin Hakimi from Elite Capital Advisors is available for contact at [email protected] or via phone at 516-350-8529.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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