FINANCEDDevelopment Site
Michael J. Gefter Closes $1,995,000 Loan For Development Site In Charlotte
1240 Paddock Cir
$1,995,000
Building Size
—
Asset Type
Development Site
Closing
Feb 1, 2025
AI
The asset involved in the transaction is a development site located at 1240 Paddock Cir in the Charlotte market. The loan amount associated with this asset is $1,995,000.00.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,995,000.00
- Loan Date: 02/01/2025
- Address: 1240 Paddock Cir
- Market: Charlotte
- Broker: Michael J. Gefter
The deal was conducted with Michael J. Gefter acting as the representative broker, facilitating the loan transaction for this development site.
Players
Charlotte Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.95%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93