Morgan Stanley Refinances 4,600 SF Condo In Highland Beach, FL For $2,662,500
3720 South Ocean Boulevard, Highland Beach, Florida 33487, United States
$2,662,500
$665,625/SF
Building Size
4 SF
Asset Type
Condo
Closing
Apr 11, 2022
About this deal
AI
The 4,600-SF condo unit located at 3720 S Ocean Blvd in Highland Beach, FL, was recently refinanced. The property, captured in a photo by Eric Trombly, is situated in a desirable market.
Summary of transaction details
- Property Type: Condo
- Transaction Date: 11/04/2022
- Address: 3720 S Ocean Blvd, Highland Beach, FL
- Market: Highland Beach, FL
- Asset Type: Condo
- Square Footage: 4,600
Morgan Stanley provided the refinancing loan for the property. The loan amount was $2,662,500, and it was classified as a refinancing loan. The terms of the loan included a 10-year fixed-rate term and full-term interest-only payments at a rate of 4.55%. Acting as brokers for the deal were Bryan Manz and Eric Trombly from Black Bear Capital Partners.
Players
Highland Beach Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.96%
Cash-on-Cash
-1.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93