Updated May 12, 2025
Urban Standard Capital Provides $20M Acquisition Loan For Palm Beach Development Site
757 Claughton Island Drive, Miami, FL 33131, USA
$20,000,000
$1,333/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Jul 30, 2020
About this deal
AI
The property asset involved in the transaction is a development site located at 757 Island Drive in the Palm Beach market. The property has a total square footage of 15,000. The acquisition loan amount for this property is $20,000,000.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 757 Island Drive
- Market: Palm Beach
- Lender: Urban Standard Capital
- Key Individuals: Seth Weissman, Charlie Brosens, Robert Levine
- Loan Type: Acquisition
- Square Footage: 15,000
The transaction is represented by Urban Standard Capital with Seth Weissman, Charlie Brosens, and Robert Levine as key figures involved in the deal. They facilitate bridge and construction opportunities, as indicated in the contact details for further inquiries to Robert and Charlie.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Seth Weissman to view all their deals.
Browse Florida development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93