1605 Northeast 3rd Avenue

  • $2450000
Closed Deal Loan

1605 Northeast 3rd Avenue

1605 NE 3rd Ave, Delray Beach, FL, USA
  • $2450000
The Landlord of 1605 NE 3rd Ave, Delray Beach, FL, USA received a loan for 2450000 on the Multi Family property.The deal closed 8 days ago.

Building Info

  • Units: 18
  • Property Type: Multi Family
  • Square Feet: 18000

Location

  • Address 1605 NE 3rd Ave, Delray Beach, FL, USA
  • City Miami
  • State/county Florida
  • Zip/Postal Code 33444
  • Country United States

Description

LOAN
IMAGE: Matt Schatzle
DATE: 11/23/2021
ADDRESS: 1605 NE 3rd Ave
MARKET: Delray Beach
ASSET TYPE: Multifamily ~ SF: 18,000 ~ UNITS: 18

LENDER: Lancewood Capital – Matt Schatzle
LANDLORD: Schijns Family

LOAN AMOUNT: $2,450,000
LOAN TYPE: Bridge

NOTE: Lancewood Capital provided a $2,450,000 bridge loan to finance the acquisition of three adjacent multifamily buildings comprised of 18 total units in Delray Beach, FL. The property is walking distance to Downtown Delray Beach/Atlantic Ave. Lancewood Capital’s loan was 70% of the purchase price. The borrower was seeking a quick closing due to purchasing a contract flip with an impending TOE date. Lancewood was able to close in 10 days.

Contact

Experts

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Founder and Managing Member
Founder and Managing Member
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Senior Managing Director
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