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8740 Northwest 40th Street

Mark Mittal Secures $5.07 Million Permanent Loan For 30-Unit Multifamily Asset In Coral Springs
FINANCEDMultiFamily

Mark Mittal Secures $5.07 Million Permanent Loan For 30-Unit Multifamily Asset In Coral Springs

8740 Northwest 40th Street

$5,700,000

$130/SF

Building Size

43,733 SF

Asset Type

MultiFamily

Closing

Mar 6, 2025

AI

The property involved in this transaction is a multifamily asset located at 8740 Northwest 40th Street in Coral Springs. It consists of 30 units within a total square footage of 43,733. The transaction includes a permanent loan amounting to $5,070,000.

Summary of transaction details:

The deal is represented by brokers Dakota Brown, Dan Dratch, Ethan Krauss, and Ryan Wold from Franklin Street, highlighting their role in facilitating this multifamily transaction and ensuring the interests of the landlord were addressed throughout the loan process.

Players

Dan Dratch

Franklin Street

Broker

$267.8M

vol

48 deals

Broker

Coral Springs 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

2.78%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93