Michael J. Gefter Secures $3 Million 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 the transaction is located at 3255 Forest Hill Blvd in West Palm Beach. This asset is classified as an office type and is associated with a loan amount of $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
- Brokers: Michael J. Gefter
- Landlord: CE Restaurant Concepts
This transaction involved Michael J. Gefter acting as the broker representative, facilitating the loan arrangement for the office asset. No landlord details were provided in the context of this transaction.
Players
West Palm Beach Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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