David Meytin & Robert Talas Provide $3M Construction Loan For Luxury Project In Bonita Springs
$3,000,000
$344/SF
Building Size
8,700 SF
Asset Type
Single Family Residence
Closing
Apr 2, 2025
AI
The asset involved in this transaction is a single-family property with a total square footage of 8,700 located in Bonita Springs. The loan amount for this new construction project is $3,000,000, and it is classified as a construction loan with a term of 12 months.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $3,000,000
- Lender: David Meytin & Robert Talas - Flatiron Realty Capital
- Loan Type: Construction
- Loan Terms: 12-Month New Construction Loan
The deal was facilitated by the lenders David Meytin and Robert Talas of Flatiron Realty Capital, who swiftly funded this luxury construction project in Bonita Springs, Florida. The financing was enabled through their in-house capital and portfolio loan program, allowing the project to be funded within four days. Additionally, Flatiron Realty Capital has committed $500 million to luxury bridge loans, focusing on various financing needs including land acquisition and ground-up construction.
Players
Market Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · 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