Palermo Financial Group Provides $4.3M Acquisition Loan For Condo In Sunny Isles Beach
FINANCED
$4,300,000
Florida
See Similar DealsCondo4,780 SF
Financed 11/22/2023
FINANCED
Palermo Financial Group Provides $4.3M Acquisition Loan For Condo In Sunny Isles Beach
17975 Collins Avenue
See Similar DealsCondo4,780 SF
Financed 11/22/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$899
Total Square Footage:4,780 SF
Transaction Type:Loan
Located at 17975 Collins Avenue in Sunny Isles Beach, this condo property was involved in a recent closed transaction. The asset type of this property is a condo, situated in a desirable location in Sunny Isles Beach.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: Not specified
- Address: 17975 Collins Avenue
- Market: Sunny Isles Beach
- Lender: Palermo Financial Group
- Landlord's Rep: Warren Krupp - American Bancshares Mortgage
- Loan Amount: $4,300,000
- Loan Type: Acquisition Loan
- Loan Terms: 12-month bridge loan
The lender for this transaction was Palermo Financial Group. The landlord's representative in the deal was Warren Krupp from American Bancshares Mortgage. The loan amount for this transaction was $4,300,000, and it was an acquisition loan with a 12-month bridge loan term.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,300,000.00
Monthly NOI$28,666.67
Monthly Debt Service$27,178.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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