S3 Capital Partners Secures $2.6M Refinance And Construction Loan For 17-Unit Multifamily In Miami
$2,600,000
$305/SF
Building Size
8,500 SF
Asset Type
MultiFamily
Closing
Nov 1, 2024
AI
The asset involved in the transaction is a multifamily property located in Miami, FL, comprising 8,500 square feet and a total of 17 units. The loan amount for this property is $2,600,000 with a loan type categorized as refinance and construction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Market: Miami, FL
- Asset Size: 8,500 SF
- Units: 17
- Lender: Robert Schwartz & Steven Jemal - S3 Capital Partners
- Broker: Christopher J. Calabrese - The CS Organization
Key individuals in the transaction include Robert Schwartz and Steven Jemal, representing S3 Capital Partners as the lenders, while Christopher J. Calabrese from The CS Organization serves as the broker for the deal. Note from the lender indicates inquiries regarding the loan can be directed to Steven Jemal at [email protected].
Market 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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93