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David Burstyn And Brian Sidman Secure $32.15 Million Refinance Loan From Regions Bank For Multifamily Asset

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FINANCED
$32,000,000

Florida

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MultiFamily100,000 SF
Financed 04/10/2025
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FINANCED

David Burstyn And Brian Sidman Secure $32.15 Million Refinance Loan From Regions Bank For Multifamily Asset

13800 Northwest 22nd Avenue

See Similar Deals
MultiFamily100,000 SF
Financed 04/10/2025
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$320
Total Square Footage:100,000 SF
Transaction Type:Loan

The property asset involved in the transaction is a multifamily development located at 13800 Northwest 22nd Avenue, Opa Locka. The asset comprises 98 units with a total square footage of 100,000. The transaction was a refinance, with a loan amount of $32,150,000 provided by Regions Bank.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $32,150,000
  • Units: 98
  • Square Footage: 100,000
  • Lender: Regions Bank
  • Landlord: David Burstyn & Brian Sidman - Redwood Dev Co
  • Loan Type: Refinance

The key individuals involved in the deal include David Burstyn and Brian Sidman, who represent the landlord Redwood Dev Co. Their roles were instrumental in facilitating the refinance of the property asset.

Details

FINANCED
IMAGE: Brian Sidman & David Burstyn DATE: 4/10/2025 ADDRESS: 13800 Northwest 22nd Avenue MARKET: Opa Locka ASSET TYPE: Multifamily ~ UNITS: 98 ~ SF: 100,000 LENDER: Regions Bank (@RegionsBank) LANDLORD: David Burstyn (@DavidBurstyn) & Brian Sidman - Redwood Dev Co LOAN AMOUNT: $32,150,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$32,000,000.00

Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00