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851 Northeast 1st Avenue

Kawa Capital Management Provides $61M Loan For Condo At 851 NE 1st Ave In Miami
FINANCEDCondo

Kawa Capital Management Provides $61M Loan For Condo At 851 NE 1st Ave In Miami

851 Northeast 1st Avenue

$61,000,000

Building Size

Asset Type

Condo

Closing

Aug 26, 2022

AI

A condo located at 851 NE 1st Avenue in Miami was involved in a significant loan transaction. The loan amount for the property reached $61,000,000.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $61,000,000
  • Lender: Kawa Capital Management
  • Landlord: Royal Palm Companies - Dan Kodsi
  • Date of Transaction: 08/26/2022

The transaction was facilitated by Dan Kodsi, representing the landlord, Royal Palm Companies. The involvement of Kawa Capital Management as the lender highlights key parties engaged in the loan agreement for the property.

Players

Kawa Capital Management
Kawa Capital ManagementLender

Dan Kodsi

Royal Palm Companies

Landlord

$1B

vol

13 deals

Landlord

Miami Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93