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
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