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Hard Money Lenders Provides $10.9 Million Bridge Loan For Package Deal In Surfside And Sag Harbor

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FINANCED
$10,900,000

Florida

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Package Deal54,000 SF
Financed 09/01/2024
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FINANCED

Hard Money Lenders Provides $10.9 Million Bridge Loan For Package Deal In Surfside And Sag Harbor

1380 Biscaya Drive, 787 Middle Line Hwy Path & 772 Middle Line Hwy Path

See Similar Deals
Package Deal54,000 SF
Financed 09/01/2024
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Summary

FLORIDA
Asset Type:Package Deal
Price Per Square Foot:$201
Total Square Footage:54,000 SF
Transaction Type:Loan

A package deal consisting of three properties located at 1380 Biscaya Drive, 787 Middle Line Hwy Path, and 772 Middle Line Hwy Path in the Surfside and Sag Harbor markets, totaling 18,000 square feet. The refinance transaction secured a loan amount of $10,900,000 through Hard Money Lenders, indicating the financial backing for experienced real estate development activities within these markets.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $10,900,000
  • Loan Type: Refinance
  • Loan Terms: Bridge Loan
  • Lender: Hard Money Lenders
  • Lender's Representative: Yuval Elkeslasi - Hard Money Lenders

The transaction showcases the capabilities of Hard Money Lenders, a boutique private money lending firm based in Aventura, Florida, with an active presence in Florida’s new construction and investment-related property market. Yuval Elkeslasi represents the lending entity in this deal, facilitating the financial arrangement for the developer involved.

Players

8 deals$30.3M volume
BROKER

Hard Money Lenders
LENDER

Details

FINANCED
IMAGE: Yuval Elkeslasi DATE: 09/01/2024 ADDRESS: 1380 Biscaya Drive, 787 Middle Line Hwy Path & 772 Middle Line Hwy Path MARKET: Surfside & Sag Harbor ASSET TYPE: Package Deal ~ SF: 18,000 LENDER: Hard Money Lenders LENDER'S REP: Yuval Elkeslasi (@YElkeslasi) - Hard Money Lenders (@HardMoneyLendersIO) LOAN AMOUNT: $10,900,000 LOAN TYPE: Refinance LOAN TERMS: Bridge Loan NOTE FROM LENDER: The team at Hard Money Lenders successfully arranged a $10,900,000 short term bridge loan across The Hamptons and Miami for an experienced real estate developer and operator. Hard Money Lenders IO is a boutique private money lender out of Aventura, Florida. We are actively lending in Florida on New Construction and investment related properties. If you have any questions, please do not hesitate to contact us directly at 786-475-7691. Thank you!

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,900,000.00

Monthly NOI$72,666.67
Monthly Debt Service$68,895.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00