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709 Coontie Court

Adir Davidov Secures $1.26 Million Refinance Loan For 7-Unit Multifamily Property In Fort Lauderdale
FINANCEDMultiFamily

Adir Davidov Secures $1.26 Million Refinance Loan For 7-Unit Multifamily Property In Fort Lauderdale

709 Coontie Court

$1,260,000

$375/SF

Building Size

3,353 SF

Asset Type

MultiFamily

Closing

Jul 24, 2024

AI

The property involved in this transaction is a multifamily asset located at 709 Coontie Court in Fort Lauderdale. The property consists of 7 units and has a total square footage of 3,353. The loan amount for refinancing is $1,260,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,260,000
  • Lender: Coastal Equity Group
  • Landlord: Adir Davidov
  • Broker: Joseph Brikman - The Modern Day Agent
  • Loan Type: Refinance

Joseph Brikman, the broker for this transaction, is associated with The Modern Day Agent. Notably, the financing entity, Coastal Equity Group, is involved in providing the funds necessary for this transaction, with a focus on assisting landlords in their real estate ventures.

Players

Joseph Brikman

Real Broker

Broker

$16.9M

vol

7 deals

Broker
Coastal Equity Group
Coastal Equity Group Lender

Fort Lauderdale 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

12.59%

Cash-on-Cash

-3.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93