Updated Oct 28, 2024
Legacy Bank Provides $3M Permanent Loan For Multifamily Property In Margate, FL
Margate, FL, USA
$3,000,000
Units
34
Asset Type
MultiFamily
Closing
Jun 1, 2021
About this deal
AI
A $3,000,000 permanent loan was secured for a multifamily property consisting of 22 condo units in Margate, FL. The loan was provided by Legacy Bank, and the transaction was facilitated by Noam Temchin of FM Capital.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Market: Margate, FL
- Asset Type: Multifamily
- Lender: Legacy Bank
- Broker: Noam Temchin - FM Capital
- Loan Terms: 22 Condo Units
- Units: 34
Noam Temchin of FM Capital represented the buyer in this transaction, securing a permanent loan for a multifamily property consisting of 22 condo units in Margate, FL.
Players
Margate MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Noam Temchin to view all their deals.
Browse Florida multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93