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13800 Northwest 22nd Avenue

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

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

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.

Players

David Burstyn

Redwood Dev Co

Landlord

$694.4M

vol

37 deals

Landlord
Redwood Dev Co
Redwood Dev CoLandlord

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