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
About this deal
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
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