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
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
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