Hakimian Organinzation obtained financing of $43M from Apple Bank For Savings

Hakimian Organinzation through the entity 30 West 18 Associates, LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $42.5 million for 2 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 109 residential units at 30 West 18 Street, 31 West 17 Street in Flatiron. The deal closed on July 29, 2019 and was recorded on August 01, 2019.
The property contains a total of 126,448 square feet of built space.
The average loan per unit is $389,908.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 87 residential (or hotel) units on July 19, 2012.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $126,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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