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4152 Belcourt Dr

Michael J. Gefter Secures $1,889,000 Loan For Development Site At 4152 Belcourt Dr In Destin
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

Michael Gefter

Wolf Investment Partners

Broker

$121.1M

vol

42 deals

Broker
Wolf Investment Partners
Wolf Investment PartnersLender

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