A note-on-note financing deal was closed for the acquisition of a non-performing loan secured by a multi-unit retail property located at 900 Morris Park Avenue in the Bronx. The property spans 17,605 square feet and consists of 6 units.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $1,800,000
• Address: 900 Morris Park Avenue
• Market: Bronx
• Square Footage: 17,605
• Units: 6

Hakimian Capital, represented by Michael Hakimian, Daniel Nadri, and Sammy Hakimian, provided note-on-note financing for the acquisition of the non-performing loan. The term sheet for the deal was signed on May 8th, and the loan was funded on May 24th. Hakimian Capital specializes in note-on-note financing for non-performing loan acquisitions in the NY boroughs, offering an advance rate of up to 90%. They have the capability to fund acquisitions in as little as 10 days, enabling simultaneous closure with the acquisition of the underlying loan. For inquiries, please reach out to Daniel Nadri at [email protected].