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Ocean Bank Provides $1.7M Refinance Loan For Oakland Park Multifamily Property

Property Image
FINANCED
$1,725,000

Florida

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MultiFamily13,600 SF
Financed 06/14/2022
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Property Image
FINANCED

Ocean Bank Provides $1.7M Refinance Loan For Oakland Park Multifamily Property

315 Northwest 32nd Street, Oakland Park, Florida 33309, United States

See Similar Deals
MultiFamily13,600 SF
Financed 06/14/2022
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$126
Total Square Footage:13,600 SF
Transaction Type:Loan

The multifamily property located at 315 NW 32nd St in Oakland Park has been involved in a recent transaction. The property consists of 17 units and covers a total area of 13,600 square feet. The date of the transaction was 06/14/2022.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,725,000
  • Loan Type: Refinance
  • Loan Terms: 4.25% interest rate, 15-year term, 30-year amortization
  • Market: Oakland Park

Ocean Bank provided a loan in the amount of $1,725,000 for the refinance of the property. The loan is subject to an interest rate of 4.25% and has a 15-year term with a 30-year amortization period. Joe Kravich is the landlord of the property. The broker involved in the transaction is Frankie Paparella from Tauro Capital Advisors, representing the buyer or seller.

Players

Frankie Paparella
Tauro Capital Advisors
Frankie Paparella
6 deals$87.9M volume
BROKER
Ocean Bank
Ocean Bank
LENDER

Details

FINANCED
IMAGE: Frankie Paparella DATE: 06/14/2022 ADDRESS: 315 NW 32nd St MARKET: Oakland Park ASSET TYPE: Multifamily ~ UNITS: 17 ~ SF: 13,600 LENDER: Ocean Bank (@OceanBankUS) LANDLORD: Joe Kravich BROKER: Frankie Paparella - Tauro Capital Advisors ([email protected]) LOAN AMOUNT: $1,725,000 LOAN TYPE: Refinance LOAN TERMS: 4.25% interest rate, 15-year term, 30-year amortization

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,725,000.00

Monthly NOI$11,500.00
Monthly Debt Service$10,903.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00