FINANCED
Vaster Provides $3.7M Refinance Loan For Edgewater Condo At 700 NE 25th St, Miami
700 Northeast 25th Street, Miami, Florida
$3,700,000
$341/SF
Building Size
10,823 SF
Asset Type
—
Closing
May 31, 2022
AI
The property involved in this transaction is a condo located at 700 NE 25th St in Edgewater, Miami. The condo spans approximately 10,823 square feet.
Summary of transaction details:
- Property Type: Condo
- Transaction Date: 05/31/2022
- Address: 700 NE 25th St
- Market: Edgewater, Miami
- Loan Type: Refinance
- Loan Amount: $3,700,000
- Loan Terms: Commercial Bridge Loan
The lender in this transaction is vaster''>Vaster, represented by George Fraguio. The brokers involved are Ken Klein and Berk Ocal, representing Q Kapital.
Players
Miami 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93