facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Condo

/

Loan

/

1420 South Miami Avenue

Updated Dec 4, 2024

Mast Capital Acquires Condo In Miami For $600M Construction Loan
FINANCEDCondo

Mast Capital Acquires Condo In Miami For $600M Construction Loan

1420 South Miami Avenue

$600,000,000

$146,163/SF

Building Size

4,105 SF

Asset Type

Condo

Closing

Feb 5, 2024

About this deal

AI

The property involved in this loan transaction is a Condo with 4,105 units located at 1420 South Miami Avenue in Miami. The loan amount for this transaction is $600,000,000, and it is classified as a Construction Loan.

Summary of transation details

The loan transaction involves multiple parties. The lender for this transaction is Javier Foncerrada Izquierdo from Banco Inbursa. Additionally, Russell Gimelstob, Alex Halpern, and Eric Calder from Ascendant Capital Partners are also involved in the lending process. On the other hand, Camilo Miguel Jr. and Jordan Kornberg represent the landlord, Mast Capital, in this deal. The landlord's representatives are Jordan Roeschlaub, Nick Scribani, and Dustin Stolly from Newmark.

On the Map

Open live map

$600,000,000

$146,163/SF

Condo

View full map

Players

Dustin Stolly

Walker & Dunlop

Broker

$51.9B

vol

277 deals

Broker
Banco Inbursa
Banco InbursaLender
Bilt advertisement

Miami Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

Loading comparables…

Deal FAQ

About $146.2K per square foot on a published $600M for 4,105 square feet (2024).

Visit Dustin Stolly to view all their deals.

Browse Florida condo loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets