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
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