Updated Sep 9, 2024
Winston Capital Management Secures $18.4M Bridge Loan For 2 SFH In Key Biscayne & Miami Beach
766 Harbor Drive & 2608 Biarritz Drive
$18,400,000
Building Size
—
Asset Type
Single Family
Closing
Jul 8, 2022
About this deal
AI
A bridge loan in the amount of $18,400,000 has been provided for the purchase of two single-family homes located at 766 Harbor Dr in Key Biscayne and 2608 Biarritz Dr in Miami Beach. The properties are situated on the wide bay water, offering scenic views.
Summary of transaction details
- Property Type: 2 SFH / Wide Bay Water
- Transaction Amount: $18,400,000
- Market: Key Biscayne & Miami Beach
Winston Capital Management, represented by David Burstyn, is the syndicator that facilitated the loan. The loan is a bridge loan with a term of 1 year. For further inquiries, interested parties can contact Winston Capital Management at 305-507-7479.
Note: Winston Capital only provides business purpose loans.
On the Map
$18,400,000
Single Family
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Key Biscayne Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93