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1000 Biscayne Boulevard, Mi...

Louis Birdman, Gilberto Bomeny, Kevin Venge, Gregg Covin & Todd Glaser Secure $90M Loan For Miami Condo
FINANCED

Louis Birdman, Gilberto Bomeny, Kevin Venge, Gregg Covin & Todd Glaser Secure $90M Loan For Miami Condo

1000 Biscayne Boulevard, Miami, FL, USA

$90,000,000

$18,367/SF

Building Size

4,900 SF

Asset Type

Closing

Mar 21, 2021

AI

Located at 1000 Biscayne Boulevard in Miami, this condominium property was involved in a closed transaction. The property consists of 84 units and was the subject of a loan transaction.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $90,000,000
  • Address: 1000 Biscayne Boulevard
  • Market: Miami

The loan for this transaction was provided by Cirrus Real Estate Partners. The landlords involved in this deal are Louis Birdman, Gilberto Bomeny, Kevin Venge, Gregg Covin, and Todd Glaser. Representing the transaction was broker Jim Fried from Sandstone Realty Advisors.

Players

Eva Garzon

Broker

$313M

vol

27 deals

Broker
Cirrus Real Estate Partners
Cirrus Real Estate PartnersLender
Louis Birdman

Louis Birdman

Landlord

$149M

vol

5 deals

Landlord

Miami CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93