Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah
1315 West 29th Street
$6,500,000
$209/SF
Building Size
31,066 SF
Asset Type
MultiFamily
Closing
Mar 12, 2024
AI
The multifamily property located at 1315 West 29th Street in Hialeah spans 31,066 square feet and consists of 72 units. The property was refinanced for $6,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Market: Hialeah
- Lender: Bill Papagno - Lument
- Landlord: Frank Rodriguez - Coconut Grove Park
- Broker: Frank Rodriguez Melo - Cedano Realty Advisors
The loan for this transaction was facilitated by Bill Papagno from Lument. Frank Rodriguez, serving as the landlord of Coconut Grove Park, engaged Frank Rodriguez Melo from Cedano Realty Advisors as the broker for the deal.
Players
Hialeah 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93