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
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