FINANCEDMultiFamily
Popular Bank Loans $7M For Multifamily Property In Palm Beach Gardens
4252 Leo Lane, Palm Beach Gardens
$7,000,000
$50/SF
Building Size
138,600 SF
Asset Type
MultiFamily
Closing
Aug 11, 2020
AI
The property involved in this transaction is a multifamily asset located at 4252 Leo Lane in Palm Beach Gardens. The property consists of 163 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Market: Palm Beach Gardens
- Lender: Popular Bank
- Landlord: Creative Choice Group
- Brokers: Paul Ahmed & Mackenzie Fry – CBRE
The loan amount for this transaction is $7,000,000 with a loan term of 10 years. The brokers representing the deal are Paul Ahmed and Mackenzie Fry from CBRE.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93