Updated Oct 28, 2024
LM Capital Provides $1.75M Bridge Loan For Development Site In Southampton
64 Westway Drive, Southampton, NY 11968
$1,750,000
$18,617/SF
Building Size
94 SF
Asset Type
Development Site
Closing
Jun 18, 2020
About this deal
AI
LM Capital has provided a $1,750,000 bridge loan for the development site located at 64 Westway Drive in Southampton. The loan is structured as a 12-month interest-only bridge loan.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $1,750,000
- Loan Terms: 12 month interest only bridge loan
- Lender: LM Capital - Jack Beyda
- Broker: Danny Perez
Jack Beyda of LM Capital served as the lender for this transaction. LM Capital is a nationwide bridge lender actively seeking investment opportunities. Further information about their loan criteria can be found on their website lm-cap.com/loan-criteria.
Players
Southampton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Coldwell Banker to view all their deals.
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93