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
About this deal
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.
On the Map
$3,000,000
$826/SF
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Players
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