Updated Jan 21, 2025
Seth Weissman, Robert Levine & Jeremy Plofker Of Urban Standard Capital Provide $6.45M Loan For Development Site In Driggs ID
$6,450,000
$6,450,000/SF
Building Size
1 SF
Asset Type
Development Site
Closing
Jan 9, 2025
About this deal
AI
The asset involved in this transaction is a development site located in Driggs, ID, covering an area of 240 acres. The acquisition loan amount is $6,450,000, which will be used to finance the project as part of Urban Standard Capital's expansion efforts in ski towns.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,450,000
- Lender: Seth Weissman, Robert Levine & Jeremy Plofker
- Lender's Agency: Urban Standard Capital
- Loan Type: Acquisition Loan
The key individuals involved in the deal include Seth Weissman, Robert Levine, and Jeremy Plofker from Urban Standard Capital. The firm is focusing on financing projects specifically in ski town locations as part of its strategic growth approach.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.46%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93