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1601 N Congress Ave

Michael J. Gefter Secures $2,900,000 Loan For Retail Property At 1601 N Congress Ave
FINANCEDRetail

Michael J. Gefter Secures $2,900,000 Loan For Retail Property At 1601 N Congress Ave

1601 N Congress Ave

$2,900,000

$362/SF

Building Size

8,008 SF

Asset Type

Retail

Closing

Feb 9, 2025

AI

The property asset involved in this transaction is located at 1601 N Congress Ave, in the West Palm Beach market. It has been classified as a retail asset and is associated with a loan amounting to $2,900,000.00.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,900,000.00
  • Address: 1601 N Congress Ave
  • Market: West Palm Beach
  • Loan Amount: $2,900,000.00
  • Broker: Michael J. Gefter
  • Landlord: Not specified

Michael J. Gefter represents the landlord in this transaction, playing a key role in facilitating the deal related to the retail asset at 1601 N Congress Ave.

Players

Michael J. Gefter

Broker

$282.5M

vol

66 deals

Broker
Wolf Investment Partners
Wolf Investment PartnersBrokerage
CC
CE Restaurant ConceptsLandlord

West Palm Beach Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93