Updated Nov 28, 2024
S3 Capital Partners Provides $5.75M Construction Loan For East Little Havana Multifamily Project
East Little Havana, Miami, Florida, United States
$5,750,000
$319,444/SF
Building Size
18 SF
Asset Type
MultiFamily
Closing
Apr 1, 2023
About this deal
AI
Located in East Little Havana, Miami, this multifamily property encompasses 26 units spread across approximately 18,500 square feet. The transaction took place on January 4, 2023 and involved a construction loan.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Units: 26
- Square Footage: 18,500
- Market: East Little Havana, Miami
The lenders involved in this deal were S3 Capital Partners, represented by Robert Schwartz and Steven Jemal. As per their note, any loan inquiries can be directed to Steven Jemal at [email protected].
Players
Miami 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
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93