Updated Sep 9, 2024
Winston Capital Management Refinances Development Site In West Palm Beach For $12M
3611 South Flagler Drive, West Palm Beach, FL, USA
$12,000,000
$666/SF
Building Size
18,000 SF
Asset Type
Development Site
Closing
May 28, 2020
About this deal
AI
An 18,000 square foot development site located at 3611 S Flagler Drive in West Palm Beach has been refinanced with a loan amount of $12,000,000. The loan was provided to the developer to refinance condo "for sale" inventory.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Address: 3611 S Flagler Drive
- Market: West Palm Beach
- Loan Type: Refinance
David Burstyn, CEO of Winston Capital Management, served as the broker in this transaction.
Please note that no further information was provided regarding this transaction.
West Palm Beach Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93