Kambiz Hakim borrows $44M from Morgan Stanley Bank for multifamily property in the Upper East Side

Kambiz Hakim through the entity 12th & 1st De LLC as borrower signed a loan agreement with lender Morgan Stanley Bank, N.A. valued at $44.0 million for 9 parcels, including the tax class multifamily, converted dwelling or rooming house (C5) and containing 131 residential units at 417 East 72nd Street, 518 East 12th Street, 418 East 88th Street, 205 1st Avenue, 203 1st Avenue, and others in the Upper East Side. The deal closed on September 30, 2019 and was recorded on November 7, 2019.
The property has 126,520 square feet of available development rights.

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