About the Property

Address:
Property address 545/9 Palisado Ave, 06095

Area:
Total sq footage ~ 60,000
Total acreage +/- 14 acres
Property includes 2 houses that will be rented

Price
Assessed value +/- $4 million
Purchase price +/- $1.35 million


Funding for the project was through donations and loans from various people. In addition, the Academy has received pledges from local salaried residents totalling around US$15,000 per month to use to service loan repayments and other costs.

Madinah Academy Announces Successful Closing on Property Acquisition

Assalamu Alaikum

It gives me great joy to finally inform you that Madina Academy has completed the purchase of the new Building!!.

The closing took place after Jumah prayers and hence it becomes even more special for us. This was a culmination of a 5 year search/negotiation/duas. But Allah SWT has really rewarded us for all of our combined efforts.

Of course none of this would have been possible without Allah's will and blessing. Having said that various concerned brothers from across the world were instrumental in getting this deal closed. I am not exaggerating when I say that every single penny helped. The closing was full of drama as there were delays in fund transfers which required scrambling of short-term loans to cover until EFT cleared. Also, the sales agent was gracious enough to waive his US$22k fees to help us bridge the gap so that we could make the final closing after Jummah.

May Allah accept all of our efforts and on the day of judgment make this good deed help us and our parents and families to be blessed with Jannatul Firdous. Ameen.

Inshallah I will provide regular updates as we make progress on the interior renovations.

Wassalam

Rehan Ashraf
rehan.ashraf@sbcglobal.net

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