Vaster Provides $4.81M Bridge Loan For Condo In Sunny Isles Beach To George Fraguio's Buyer
17875 Collins Avenue
$4,810,000
$1,202,500/SF
Building Size
4 SF
Asset Type
Condo
Closing
Sep 13, 2022
About this deal
AI
A bridge loan was secured for a condo located at 17875 Collins Ave in Sunny Isles Beach. The condo spans approximately 4,131 square feet and is situated in the market of Sunny Isles Beach.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $4,810,000.00
- Address: 17875 Collins Ave, Sunny Isles Beach
- Market: Sunny Isles Beach
- Loan: Bridge Loan
The lender for this transaction was Vaster, represented by George Fraguio. The mortgage broker, Carmen Stevens from Global International Group, facilitated the loan amount of $4,810,000.00.
On the Map
$4,810,000
$1,202,500/SF
Condo
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Players
Sunny Isles Beach Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93