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:
- Property Type: Multifamily
- Transaction Amount: $5,070,000
- Units: 30
- Square Footage: 43,733
- Address: 8740 Northwest 40th Street
- Market: Coral Springs
- Landlord: Mark Mittal
- Brokers: Dakota Brown, Dan Dratch, Ethan Krauss & Ryan Wold - Franklin Street
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
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