Winston Capital Management Provides $1.35M Bridge Loan For Parque Central PH2 Condo In Sunny Isles Beach
330 Sunny Isles Blvd, Sunny Isles Beach, Florida 33160, United States
$1,350,000
$385/SF
Building Size
3,500 SF
Asset Type
—
Closing
Mar 2, 2022
About this deal
AI
A bridge loan of $1,350,000 was recently closed on a condo property located at 330 Sunny Isles Blvd. in Parque Central PH2, Sunny Isles Beach. The property spans approximately 3,500 square feet and is owned by PH2, LLC, with Jerry Kaufman serving as the manager. Winston Capital Management provided the loan, with David Burstyn representing the lender.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,350,000
- Property Square Footage: 3,500
- Address: 330 Sunny Isles Blvd. - Parque Central PH2, Sunny Isles Beach
- Market: Sunny Isles Beach
- Landlord: PH2, LLC - Jerry Kaufman, Manager
- Lender: Winston Capital Management - David Burstyn
This bridge loan, which has a term of 1 year, was closed in just 2 weeks. Winston Capital Management specializes in providing business purpose loans. For clients in need of a bridge loan, they can contact David Burstyn.
Players
Sunny Isles Beach CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93