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430 Grand Bay Drive, Key Bi...

Fortune International Realty, Complete Mortgage & Cervera Real Estate LLC Facilitate $3M Acquisition Loan For Key Biscayne Condo
FINANCED

Fortune International Realty, Complete Mortgage & Cervera Real Estate LLC Facilitate $3M Acquisition Loan For Key Biscayne Condo

430 Grand Bay Drive, Key Biscayne, Florida 33149, United States

$3,000,000

$826/SF

Building Size

3,630 SF

Asset Type

Closing

Mar 29, 2022

AI

The property involved in this transaction is a condominium located at 430 Grand Bay Dr, 603, in the Key Biscayne market. The condo spans approximately 3,630 square feet.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $3,000,000
  • Address: 430 Grand Bay Dr, 603
  • Market: Key Biscayne
  • Loan Type: Acquisition Loan
  • Loan Terms: 30 yr FRM

The lender for this transaction is Kind Lending, providing an acquisition loan of $3,000,000. The landlord in this deal is the Rodriguez Family. The brokers involved in this transaction are Avalon McLeod from Complete Mortgage, Natalia Salgado from Fortune International Realty, and Maria Guinea from Cervera Real Estate LLC.

Players

Natalia Salgado

Fortune International Realty

Broker

$3M

vol

1 deal

Broker
Kind Lending
Kind LendingLender

Rodriguez Family

Landlord

$6.6M

vol

2 deals

Landlord

Key Biscayne 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93