Jared Margolis Secures $17.5 Million Bridge Loan From David Burstyn For Surfside Spec House

The property involved in the transaction is a single family asset located at 608 88th Street in the Surfside market. The asset spans 4,551 square feet and is part of a 15,075 square foot waterfront lot. A development loan of $17,500,000 has been arranged for this 9,000 square foot spec house. Jared Margolis is the borrower for this bridge loan, which has a term of 18 months.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $17,500,000
• Loan Type: Bridge
• Loan Terms: 18 months
• Lender: David Burstyn - Winston Capital Management
• Borrower: Jared Margolis
• Total Lot Size: 15,075 square feet
• Additional Property: 6,000 square foot home on a 25,000 square foot lot owned by Margolis
• Market: Surfside

Winston Capital Management, led by David Burstyn, has financed this development loan. The firm has successfully closed over $44,000,000 in deals within the Surfside and Bay Harbor markets in the last 30 days, demonstrating their active presence in the area. Winston Capital specializes in providing business purpose loans to real estate investors, offering quick funding solutions for various development projects.