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Meyer Saffati Of Equity Lending Solutions Closes $4.69M Construction Loan In Coconut Grove Florida

Property Image
FINANCED
$4,687,500

Florida

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Single Family6,194 SF
Financed 07/10/2024
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Property Image
FINANCED

Meyer Saffati Of Equity Lending Solutions Closes $4.69M Construction Loan In Coconut Grove Florida

Single Family6,194 SF
Financed 07/10/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:Single Family
Price Per Square Foot:$756
Total Square Footage:6,194 SF
Transaction Type:Loan

The asset involved in this transaction is a single-family property located in Florida, featuring a total square footage of 6,194. The construction loan obtained is valued at $4,687,500, designated for a high-end new construction project in Coconut Grove.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $4,687,500
  • Lender: Meyer Saffati - Equity Lending Solutions
  • Loan Type: Construction Loan
  • Loan Terms: 80% LTC, 24 month term, interest only
  • Involved Parties: Pine Bay Ventures Mortgage Fund

Meyer Saffati, representing Equity Lending Solutions, brokered and successfully closed the ground-up construction loan in collaboration with Pine Bay Ventures Mortgage Fund for this project.

Players

Equity Lending Solutions
Equity Lending Solutions
LENDER

Details

FINANCED
IMAGE: Meyer Saffati DATE: 07/10/2024 MARKET: Florida ASSET TYPE: Single Family~ SF: 6,194 LENDER: Meyer Saffati - Equity Lending Solutions (@EquityLendingSolutions) LOAN AMOUNT: $4,687,500 LOAN TYPE: Construction Loan LOAN TERMS: 80% LTC, 24 month term, interest only. NOTE FROM LENDER: Meyer Saffati, representing Equity Lending Solutions, brokered and successfully closed together with Pine Bay Ventures Mortgage Fund the ground-up construction loan for this luxurious high-end new construction project in Coconut Grove.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,687,500.00

Monthly NOI$31,250.00
Monthly Debt Service$29,628.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00