Scott Modelski Of Black Bear Capital Partners Provides $4.9M Construction Loan For Luxury Single-Family Home In Boca Raton
$4,866,500
Building Size
—
Asset Type
Single Family
Closing
Dec 29, 2023
AI
The luxury single-family residence located at 17603 Castlebay Court in Boca Raton, FL was the subject of a recent closed loan transaction. The loan amount for this transaction was $4,866,500 and it was a construction loan. The financing provided was an 18-month interest-only fixed-rate loan.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $4,866,500
- Address: 17603 Castlebay Court, Boca Raton, FL
- Market: Boca Raton, FL
- Borrower: The Reich Companies
- Broker: Scott Modelski - Black Bear Capital Partners
- Loan Type: Construction
- Loan Terms: 18-month interest-only fixed-rate loan
Scott Modelski from Black Bear Capital Partners represented the borrower, The Reich Companies, in this loan transaction.
Players
Market Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.26%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93