FINANCED
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
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.
Players
Jupiter CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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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