Joe Moser And Mark Simon Of Benmark Capital Provide $13M Bridge Loan For Development Site Acquisition In Bay Harbor Islands, FL
9431 East Bay Harbor Drive
$13,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 26, 2024
AI
A development site located at 9431 East Bay Harbor Drive in Bay Harbor Islands, FL has been involved in a loan transaction. The property is a development site with a total buildable square footage of 170,638. The loan amount for this transaction is $13,000,000 and it is classified as a bridge loan.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,000,000
- Address: 9431 East Bay Harbor Drive, Bay Harbor Islands, FL
- Market: Bay Harbor Islands, FL
- Loan Type: Bridge
- Lender: Joe Moser & Mark Simon - Benmark Capital
- Landlord: Bruce Eichner
The loan transaction involves a development site located at 9431 East Bay Harbor Drive in Bay Harbor Islands, FL. The lenders for this transaction are Joe Moser and Mark Simon, representing Benmark Capital. The landlord of the property is Bruce Eichner.
Players
Bay Harbor Islands 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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93