LV Lending Provides $16.5M Construction Loan For North Miami Beach Multifamily Property
4098 NE 167th St
Units
10
Asset Type
—
Closing
Jul 28, 2022
About this deal
AI
A multifamily property located at 4098 NE 167th St in North Miami Beach has recently undergone a closed transaction. The property consists of 10 units and spans across 26,773 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Market: North Miami Beach
- Address: 4098 NE 167th St
- Units: 10
- Square Footage: 26,773
LV Lending, represented by Camilo Niño, Ricardo Uribe, and Alen Hernandez, provided a construction loan of $16,500,000 for this property. The landlord of the property is Macken Companies, represented by Alan S. Macken.
On the Map
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93