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1161 Belle Meade Isle Drive...

Winston Capital Management Provides $4.65M Bridge Loan For Waterfront Property In Miami
FINANCEDMultiFamily

Winston Capital Management Provides $4.65M Bridge Loan For Waterfront Property In Miami

1161 Belle Meade Isle Drive, Miami, Florida 33138, United States

$4,650,000

$310/SF

Building Size

15,000 SF

Asset Type

MultiFamily

Closing

Aug 4, 2022

AI

A bridge loan was secured for a single-family residential property located at 1161 Belle Meade Island Dr in Miami. The property, measuring 15,000 square feet, sits on a waterfront lot and is owned by Kerby Jean Raymond. The loan amount provided by Winston Capital Management, represented by David Burstyn, totals $4,650,000. The loan terms stipulate a one-year duration.

Summary of transaction details:

  • Property Type: Single-Family Residential
  • Transaction Amount: $4,650,000
  • Address: 1161 Belle Meade Island Dr, Miami
  • Market: Miami
  • Asset Size: 15,000 square feet

David Burstyn, representing Winston Capital Management, facilitated the loan for this waterfront property owned by Kerby Jean Raymond. Burstyn expresses their affinity for waterfront properties and encourages direct messages for similar loan opportunities on his Instagram account, @davidburstyn.

Players

David Burstyn

Winston Capital Management

Broker

$694.4M

vol

37 deals

Broker
Winston Capital Management
Winston Capital ManagementLender

Kerby Jean-Raymond

Landlord

$15.8M

vol

3 deals

Landlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.41%

Cash-on-Cash

-0.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93