Seventh Street Development Group Acquires Development Site In Surfside For $7.05M With Loan From Judy Zucker - FM Home Loans
FINANCED
$7,050,000
Florida
See Similar DealsDevelopment Site20 SF
Financed 05/16/2022
FINANCED
Seventh Street Development Group Acquires Development Site In Surfside For $7.05M With Loan From Judy Zucker - FM Home Loans
9250 Bay Drive
See Similar DealsDevelopment Site20 SF
Financed 05/16/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$352,500
Total Square Footage:20 SF
Transaction Type:Loan
Seventh Street Development Group has secured a bridge loan of $7,050,000 for the acquisition of a development site located at 9250 Bay Dr in Surfside. The property spans approximately 20,000 square feet and is situated in a prime market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,050,000
- Lender: Judy Zucker - FM Home Loans
- Buyer: Seventh Street Development Group
- Loan Type: Bridge
Judy Zucker from FM Home Loans served as the lender for this transaction. The loan will provide financial support to Seventh Street Development Group in their plans for the development site.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,050,000.00
Monthly NOI$47,000.00
Monthly Debt Service$44,560.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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