Jeffrey Soffer Secures $50M Loan For Tequesta Condo Acquisition
1500 Beach Road, Tequesta, FL, USA
$50,000,000
$41,666/SF
Building Size
1,200 SF
Asset Type
—
Closing
Mar 30, 2021
About this deal
AI
The property involved in the transaction is a condo located at 1500 Beach Road in the market of Tequesta. The transaction took place on 03/31/2021. The asset type of this property is a condo.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $50,000,000
- Address: 1500 Beach Road
- Market: Tequesta
The lender for this transaction is Bank OZK. The landlord in this deal is Jeffrey Soffer, who represents Fontainebleau Development.
The commercial loan at 1500 Beach Road, Tequesta, FL, USA in Jupiter, Florida financed for $50M in 2021. The building is 1,200 square feet, implying about 41.7K per square foot on the published price. Named participants on the 1500 Beach Road, Tequesta, FL, USA loan are Jeff Soffer. This page is the Jupiter, Florida file for the 1500 Beach Road, Tequesta, FL, USA commercial financed: pricing, party profiles, and other closed commercial comps from the same Jupiter sit in the Market section below. Filter that Jupiter commercial set by closing date to see what else financed near 1500 Beach Road, Tequesta, FL, USA around 2021. Published consideration for 1500 Beach Road, Tequesta, FL, USA is $50M, dated 2021. Cite this Jeffrey Soffer Secures $50M Loan For Tequesta Condo Acquisition loan when underwriting similar commercial product around Jupiter, Florida.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93