Vaster Grants $1.69M Bridge Loan For Continuum South Beach Condo Acquisition
Continuum On South Beach, 100 South Pointe Dr, South Beach, Miami Beach, FL, USA
$1,690,000
$1,062/SF
Building Size
1,591 SF
Asset Type
—
Closing
Oct 12, 2021
About this deal
AI
Continuum South Beach - 100 S. Pointe Dr. in Miami Beach has recently undergone a closed property transaction. This condominium unit spans approximately 1,591 square feet, offering a comfortable living space. The transaction took place on October 13, 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $1,690,000
- Market: Miami Beach
- Loan Type: Bridge
The lender, vaster''>Vaster, provided a loan amount of $1,690,000 for this transaction. George Fraguio represents Vaster as the lender's contact in this deal. Domingo Gandara from Cervera Real Estate acted as the sale broker in this transaction. They played a crucial role in facilitating the successful completion of the deal at Continuum South Beach.
On the Map
$1,690,000
$1,062/SF
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.39%
Cash-on-Cash
-2.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93