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970 Boca Ciega Isle Dr St P...

Updated Dec 4, 2023

Hard Money Lenders Provides $2.1M Bridge Loan For St. Pete Beach Multifamily Property
FINANCEDMultiFamily

Hard Money Lenders Provides $2.1M Bridge Loan For St. Pete Beach Multifamily Property

970 Boca Ciega Isle Dr St Pete Beach, FL 33706, USA

$2,100,000

$656/SF

Building Size

3,200 SF

Asset Type

MultiFamily

Closing

Jul 24, 2023

About this deal

AI

The property involved in this transaction is a multi-family property located at 970 Boca Ciega Isle Drive in St. Pete Beach. The property spans approximately 3,200 square feet and is situated in a prime waterfront location. The loan amount for this transaction is $2,100,000, and the loan type is a bridge loan.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $2,100,000
  • Address: 970 Boca Ciega Isle Drive
  • Market: St. Pete Beach
  • Square Footage: 3,200

The lender in this transaction is Hard Money Lenders - Yuval Elkeslasi, a boutique private money lender based in Aventura, Florida. The landlord involved in this deal is D Hagan. The team at Hard Money Lenders worked tirelessly to secure the loan for this waterfront property. If you have any questions or need further information, you can contact Yuval Elkeslasi directly at 786-475-7691.

Players

Hard Money Lenders
Hard Money LendersLender

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $656 per square foot on a published $2.1M for 3,200 square feet (2023).

Browse Miami multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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