FINANCEDDevelopment Site
Michael J. Gefter Secures $1,889,000 Loan For Development Site At 4152 Belcourt Dr In Destin
4152 Belcourt Dr
$1,889,000
Building Size
—
Asset Type
Development Site
Closing
Jan 21, 2025
AI
A development site located at 4152 Belcourt Dr in the Destin market was involved in a loan transaction. The loan amount for this property was $1,889,000.00.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,889,000.00
- Address: 4152 Belcourt Dr
- Market: Destin
- Brokers: Michael J. Gefter
Michael J. Gefter served as the representative in this loan transaction, facilitating the process related to the development site at the specified address.
Players
Destin Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.40%
Cash-on-Cash
-2.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93