Michael J. Gefter Secures $3,000,000 Loan For Office Asset In West Palm Beach
3255 Forest Hill Blvd
$3,000,000
$337/SF
Building Size
8,892 SF
Asset Type
Office
Closing
Feb 11, 2025
AI
The property asset involved in this transaction is an office space located at 3255 Forest Hill Blvd, situated in the West Palm Beach market. The loan amount for this transaction is $3,000,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,000,000.00
- Address: 3255 Forest Hill Blvd
- Market: West Palm Beach
- Loan Date: 02/11/2025
- Broker: Michael J. Gefter
Michael J. Gefter represents the landlord in this transaction, facilitating the loan agreement for the office space at the specified address. The transaction highlights the collaboration between the broker and the landlord within the West Palm Beach market.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93