Onyx Funding Provides $7.85M Construction Loan For Mixed-Use Property In Delray Beach

The property asset involved in this transaction is a mixed-use building located at 246 Southeast 6th Avenue, situated in the Delray Beach market. The asset spans a total square footage of 14,895. The loan amount secured for this asset is $7,851,000, categorized as a construction loan.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $7,851,000
• Lender: Onyx Funding
• Landlord: Ronen Gershon
• Broker: Shaun Ashkenazy
• Loan Type: Construction
• Loan Terms: Mid-construction Refi - cash-neutral with 3 months of IR

The individuals involved in this transaction include Ronen Gershon, who serves as the landlord, and Shaun Ashkenazy, acting as the broker for this deal. The loan is facilitated by Onyx Funding, indicating the financial backing behind the construction aspect of the property asset.