Updated Dec 4, 2023
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
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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