FinanceMiami Provides $17M Refinance Loan For Wynwood Condo At 2700 N Miami Ave
2700 North Miami Avenue, Miami, Florida 33127, United States
$17,000,000
$157/SF
Building Size
107,782 SF
Asset Type
—
Closing
Apr 14, 2022
AI
Wellmeaning Properties has closed a refinance deal for a condo located at 2700 N Miami Ave in Wynwood. The asset consists of 100 units and was refinanced for a total amount of $17,000,000 by financemiami''>FinanceMiami. The transaction took place on April 15, 2022.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $17,000,000
- Address: 2700 N Miami Ave
- Market: Wynwood
- Units: 100
The refinance deal was facilitated by Emile Schachter and Doug Landry from FinanceMiami, with Doug Landry also representing FinanceBoston. Eduardo Paleaz, representing Wellmeaning Properties, acted as the landlord in the transaction.
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93