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David Burstyn Of Winston Capital Management Funds Acquisition Loan For Development Site In Miami For $8.68M

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FINANCED
$8,682,500

Florida

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Development Site36,000 SF
Financed 10/29/2024
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Property Image
FINANCED

David Burstyn Of Winston Capital Management Funds Acquisition Loan For Development Site In Miami For $8.68M

436 Northeast 35th Street

See Similar Deals
Development Site36,000 SF
Financed 10/29/2024
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$241
Total Square Footage:36,000 SF
Transaction Type:Loan

The property involved in this transaction is a development site located at 436 Northeast 35th Street in Miami, with an asset size of 36,000 square feet. The acquisition loan amounts to $8,682,500 and is categorized as an acquisition loan with a term of 2 years.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $8,682,500
  • Lender: David Burstyn - Winston Capital Management
  • Landlord: William Ticona
  • Loan Type: Acquisition
  • Loan Terms: 2 years

The key players in this transaction include David Burstyn representing Winston Capital Management, which specializes in providing business purpose loans to real estate investors, and William Ticona as the landlord involved in this acquisition process.

Players

David Burstyn
Winston Capital Management
David Burstyn
37 deals$694.4M volume(305) 507-7479
BROKER
Winston Capital Management
Winston Capital Management
LENDER

Details

FINANCED
IMAGE: David Burstyn DATE: 10/29/2024 ADDRESS: 436 Northeast 35th Street MARKET: Miami ASSET TYPE: Development Site ~ SF: 36,000 LENDER: David Burstyn (@DavidBurstyn) - Winston Capital Management LANDLORD: William Ticona LOAN AMOUNT: $8,682,500 LOAN TYPE: Acquisition LOAN TERMS: 2 years NOTE FROM LENDER: David Burstyn’s Winston Capital Management funded a $8,692,5000 acquisition loan on a 33,000,000 sq ft lot in Edgewater. DM for Inquiries Winston Capital provides business purpose loans to real estate investors.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,682,500.00

Monthly NOI$57,883.33
Monthly Debt Service$54,879.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00