Urban Street Development Acquires Development Site In Fort Lauderdale For $9M
FINANCED
$9,000,000
Florida
See Similar DealsDevelopment Site1,462 SF
Financed 05/15/2020
FINANCED
Urban Street Development Acquires Development Site In Fort Lauderdale For $9M
401 NW 1st St, Cape Coral, FL 33993, USA
See Similar DealsDevelopment Site1,462 SF
Financed 05/15/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$6,156
Total Square Footage:1,462 SF
Transaction Type:Loan
An development site located at 401 Northwest 1st Ave in Fort Lauderdale has been closed on as part of a transaction. The property is owned by Urban Street Development, represented by Tim Petrillo and Alan Hooper.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $9,000,000
- Units: 35
- Market: Fort Lauderdale
- Landlord: Urban Street Development - Tim Petrillo & Alan Hooper
- Broker: Brad Williamson - Berkadia
The deal was facilitated by Brad Williamson from Berkadia. No additional information is available regarding this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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