Samy Cohen, Alberto Dichi, Alan Benenson, Bryan Cohen, Jonathan Cohen Landlords Secure $19.2M Construction Loan For 120 Unit Multifamily In Palm Bay
Sportsman Circle Northeast
$19,200,000
$209/SF
Building Size
91,623 SF
Asset Type
MultiFamily
Closing
Feb 12, 2025
AI
The property asset involved is a multifamily development located at 1469-1499 Sportsman Lane Northeast in the Palm Bay market. This property comprises 120 units spread over a total area of 91,623 square feet. The transaction was secured through a construction loan amounting to $19,200,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,200,000
- Address: 1469-1499 Sportsman Lane Northeast
- Market: Palm Bay
- Total Units: 120
- Square Footage: 91,623
- Landlords: Samy Cohen, Alberto Dichi, Alan Benenson, Bryan Cohen, Jonathan Cohen
- Brokers: Max La Cava, Pier Barinci, Abbie Kushner - JLL
- Loan Type: Construction
The deal features key individuals such as the landlords, Samy Cohen, Alberto Dichi, Alan Benenson, Bryan Cohen, and Jonathan Cohen, who are all involved in this transaction. The brokers representing the deal are Max La Cava, Pier Barinci, and Abbie Kushner from JLL, playing a critical role in facilitating this construction loan.
Players
Palm Bay 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93