Yonel Devico Of Crosby Capital USA Provides $6.9M Bridge Loan For 52 Holly Lane In Water Mill
52 Holly Lane
$6,900,000
$1,352/SF
Building Size
5,100 SF
Asset Type
Single Family
Closing
Jun 21, 2024
AI
The property involved in this transaction is a single-family home located at 52 Holly Lane in Water Mill, featuring a total square footage of 5,100. The loan amount for this property is $6,900,000, secured through a bridge loan.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $6,900,000
- Address: 52 Holly Lane
- Market: Water Mill
- Lender: Yonel Devico - Crosby Capital USA
- Loan Type: Bridge Loan
The transaction involved key stakeholders, including Yonel Devico representing Crosby Capital USA as the lender. This deal highlights the participation of financial intermediaries facilitating the bridge loan arrangement for the residential asset.
Players
Water Mill 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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93