Metro Fund Inc. Provides $3M Construction Loan For SFR On South Hibiscus Drive In Miami Beach
375 S Hibiscus Dr Miami Beach, FL 33139, USA
$3,000,000
$631/SF
Building Size
4,750 SF
Asset Type
Single Family Residence
Closing
Jul 26, 2023
AI
The property involved in this loan transaction is a single-family residence located at 375 South Hibiscus Drive in Miami Beach. The property spans approximately 4,750 square feet and is owned by Federico Trotta.
Summary of transaction details
- Property Type: Single-Family Residence (SFR)
- Transaction Amount: $3,000,000
- Lender: Metro Fund Inc. - Orlando Diaz
- Loan Type: Construction
- Loan Terms: Prime plus .75% on a 3 year financing 100% of the construction costs
Metro Fund Inc., represented by Orlando Diaz, acted as the lender for this construction loan. The loan amount provided was $3,000,000, covering the full construction costs of the property. The loan term is set at 3 years, with an interest rate of prime plus .75%. This loan is interest-only for the duration of the term. For more information on Metro Fund's construction and commercial loan programs, please see their website at www.metrofundgroup.com or contact Orlando Diaz at [email protected].
Players
Miami 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