Updated Jul 31, 2026
Michael J. Gefter Secures $1,995,000 Loan For Development Site At 1240 Paddock Circle In Charlotte
1240 Paddock Circle
$1,995,000
Lot Size
14,500 SF
Asset Type
Development Site
Closing
Jan 31, 2025
About this deal
AI
The property asset involved in the transaction is a development site located at 1240 Paddock Circle in Charlotte. The loan amount for this transaction is $1,995,000.00.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,995,000.00
- Address: 1240 Paddock Circle
- Market: Charlotte
- Loan Date: 02/01/2025
Michael J. Gefter is the broker representing this transaction. No other individuals or companies involved in the transaction have been mentioned.
The development site loan at 1240 Paddock Circle in Charlotte, North Carolina financed for $2M in 2025. 1240 Paddock Circle is classified as Development Site on Traded. Michael J. Gefter, KBC, WOLF INVESTMENT PARTNERS, Wolf Investment Partners appear on the loan alongside Wolf Investment Partners. This page is the Charlotte, North Carolina file for the 1240 Paddock Circle 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 Circle around 2025. Published consideration for 1240 Paddock Circle is $2M, dated 2025. Cite this Michael J. Gefter Secures $1,995,000 Loan For Development Site At 1240 Paddock Circle In Charlotte loan when underwriting similar development site product around Charlotte, North Carolina.
Players
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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