Updated Mar 28, 2025
David-Emmanuel Cohen Of Madar Group USA Secures $18M Construction Loan For Development Site In Miami Beach
1005 Links Dr
$18,000,000
$1,113/SF
Building Size
16,166 SF
Asset Type
Development Site
Closing
Mar 14, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 1005 Links Dr in the Miami Beach market. The transaction involves a construction loan with a total amount of $18,000,000.00 secured for the development purposes of the property.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000.00
- Lender: Vertix Group
- Landlord: David-Emmanuel Cohen - Madar Group USA
- Loan Type: Construction
- Loan Date: 03/14/2025
The key individuals in this transaction include David-Emmanuel Cohen, who represents the landlord Madar Group USA. The lender, Vertix Group, is responsible for providing the financing necessary for the construction project. This transaction highlights the collaboration between the lender and the landlord to facilitate the development site funding.
On the Map
$18,000,000
$1,113/SF
Development Site
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Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93