Updated Feb 16, 2024
FINANCEDMultiFamily
Ocean Bank Provides $67.1M Construction Loan For Multifamily Property In Hialeah
4030 West 88th Street, Hialeah, Florida 33018, United States
$67,100,000
Building Size
—
Asset Type
MultiFamily
Closing
May 2, 2022
About this deal
AI
An apartment building located at 4030 West 88th Street in Hialeah has been sold in a closed transaction. The property is a multifamily asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $67,100,000
- Lender: Ocean Bank - Eddie Diaz & Jorge Hernandez
- Landlord: Juan Carlos Gonzalez
- Loan Type: Construction Loan
Ocean Bank, represented by Eddie Diaz and Jorge Hernandez, provided a construction loan of $67,100,000 for the purchase of the apartment building. Juan Carlos Gonzalez is the landlord of the property.
Players
Ocean BankLender
Hialeah MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93