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
Lot Size
33,106 SF
Asset Type
Development Site
Closing
Jan 21, 2025
AI
The asset involved in the transaction is a development site located at 4152 Belcourt Dr, in Destin. The loan amount for this property is $1,889,000.00.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,889,000.00
- Loan Date: 01/21/2025
- Address: 4152 Belcourt Dr
- Market: Destin
- Broker: Michael J. Gefter
The deal involves broker Michael J. Gefter, who represents the interests in the transaction. No further details about other participants in the deal are provided.
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