Updated Jul 31, 2026
Michael J. Gefter Closes $1,995,000 Loan For Development Site In Charlotte
1240 Paddock Cir
$1,995,000
Lot Size
14,500 SF
Asset Type
Development Site
Closing
Feb 1, 2025
About this deal
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.
The development site loan at 1240 Paddock Cir in Charlotte, North Carolina financed for $2M in 2025. 1240 Paddock Cir is classified as Development Site on Traded. Michael Gefter, Wolf Investment Partners appear on the loan alongside Wolf Investment Partners. This page is the Charlotte, North Carolina file for the 1240 Paddock Cir development site financed: pricing, party profiles, and other closed development site comps from the same Charlotte sit in the Market section below. Filter that Charlotte development site set by closing date to see what else financed near 1240 Paddock Cir around 2025. Published consideration for 1240 Paddock Cir is $2M, dated 2025. Cite this Michael J. Gefter Closes $1,995,000 Loan For Development Site In Charlotte loan when underwriting similar development site product around Charlotte, North Carolina.
Players
Charlotte Development Site Market Snapshot
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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