Grant Cardone's Cardone Capital Secures $63.5M Loan For Fort Lauderdale Multifamily
FINANCED
$63,500,000
Florida
See Similar DealsMultiFamily1,237 SF
Financed
FINANCED
Grant Cardone's Cardone Capital Secures $63.5M Loan For Fort Lauderdale Multifamily
1919 SE 10th Ave, Fort Lauderdale, FL, USA
See Similar DealsMultiFamily1,237 SF
Financed
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$51333
Total Square Footage:1237 SF
Transaction Type:Loan
A seven-year loan for $63,500,000 has been secured for a multifamily property located at 1919 SE 10th Ave in Fort Lauderdale. The loan, provided by New York Community Bank, offers full-term, interest-only payments.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,500,000
- Address: 1919 SE 10th Ave
- Market: Fort Lauderdale
- Lender: New York Community Bank
- Landlord: Grant Cardone - Cardone Capital
- Brokers: Meridian Capital Group - Israel Schubert
Grant Cardone, the landlord of the property, representing Cardone Capital, successfully secured the loan for this multifamily asset. The transaction was facilitated by Meridian Capital Group, with Israel Schubert representing the brokerage firm.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,500,000.00
Monthly NOI$423,333.33
Monthly Debt Service$401,363.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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