Eugene Rutenberg Of Celestial Fund Secures $16.3 Million Loan For Boca Raton Office Acquisition
FINANCED
$17,500,000
Florida
See Similar DealsOffice240,000 SF
Financed 04/08/2025
FINANCED
Eugene Rutenberg Of Celestial Fund Secures $16.3 Million Loan For Boca Raton Office Acquisition
621 Northwest 53rd Street
See Similar DealsOffice240,000 SF
Financed 04/08/2025
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$72
Total Square Footage:240,000 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 621 Northwest 53rd Street in Boca Raton, featuring a total square footage of 240,000. The loan amount for this acquisition is $16,300,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,300,000
- Loan Type: Acquisition
- Broker: Eugene Rutenberg - Celestial Fund
The broker representing the transaction is Eugene Rutenberg from Celestial Fund, the company known for delivering results for senior loans, mezzanine debt, and preferred equity structured finance nationwide. A thank you is extended to their capital partner for providing certainty of closing for the sponsor involved.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,500,000.00
Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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