Updated Oct 31, 2025
Meyer Saffati Of Alto Capital Closes $3.87 Million Construction Loan For Naples Multifamily Development
$3,867,500
$479/SF
Building Size
8,060 SF
Asset Type
MultiFamily
Closing
Jan 10, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located on 5th Avenue SW in Naples, Florida. The development consists of two luxury residences, each spanning over 4,000 square feet, with a total of 8,060 square feet across both units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,867,500
- Lender: Meyer Saffati - ALTO CAPITAL
- Loan Type: Construction
- Loan Terms: 18 months
- LTC: 90%
- Interest Rate: 9.99%
- Prepayment Penalty: No
The deal is facilitated by Meyer Saffati representing ALTO CAPITAL, who provided the financing. The loan is structured as interest-only for the duration of the 18-month term, aiming to empower the developer in bringing this high-value real estate project to fruition.
Players
Market MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.10%
Cash-on-Cash
-1.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93