Winston Capital Management Refinances SFR In North Bay Village With $5.7M Bridge Loan
1331 Bay Terrace
$5,700,000
$756/SF
Building Size
7,531 SF
Asset Type
MultiFamily
Closing
Feb 9, 2023
AI
A 1 year bridge loan was secured for the refinance of a single-family residential property located at 1331 Bay Terrace in North Bay Village. The property has a total square footage of 7,531 square feet. The loan amount for the refinance was $5,700,000.
Summary of transaction details
- Property Type: Single-Family Residential (SFR)
- Transaction Amount: $5,700,000
- Address: 1331 Bay Terrace
- Market: North Bay Village
- Loan Type: Refinance
- Loan Terms: 1 Year Bridge Loan
- Lender: Winston Capital Management - David Burstyn
David Burstyn from Winston Capital Management acted as the lender representative for this transaction.
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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93