Updated May 12, 2025
David Burstyn And Brian Sidman Secure $32.15 Million Refinance Loan From Regions Bank For Multifamily Asset
13800 Northwest 22nd Avenue
$32,000,000
$320/SF
Building Size
100,000 SF
Asset Type
MultiFamily
Closing
Apr 9, 2025
About this deal
AI
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.
On the Map
$32,000,000
$320/SF
MultiFamily
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Opa Locka 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93