Updated Oct 29, 2024
Banesco USA Provides $31.3M Loan For Development Site In Miami-Dade County
1101 NW 57th Ave, Miami, FL 33126, USA
$31,300,000
$495/SF
Building Size
63,120 SF
Asset Type
Development Site
Closing
Jun 16, 2020
About this deal
AI
A development site located at 1101 Northwest 57th Avenue in Miami-Dade County has been involved in a loan transaction. The lender, Banesco USA, provided a loan amount of $31,300,000 for this property asset.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $31,300,000
- Address: 1101 Northwest 57th Avenue, Miami-Dade County
Baywood Hotels, represented by Al Patel, is the landlord of this development site. There are no additional details available regarding the transaction.
The development site loan at 1101 NW 57th Ave, Miami, FL 33126, USA in Hialeah, Florida financed for $31.3M in 2020. The building is 63,120 square feet, implying about 495 per square foot on the published price. Named participants on the 1101 NW 57th Ave, Miami, FL 33126, USA loan are Al Patel. This page is the Hialeah, Florida file for the 1101 NW 57th Ave, Miami, FL 33126, USA development site financed: pricing, party profiles, and other closed development site comps from the same Hialeah sit in the Market section below. Filter that Hialeah development site set by closing date to see what else financed near 1101 NW 57th Ave, Miami, FL 33126, USA around 2020. Published consideration for 1101 NW 57th Ave, Miami, FL 33126, USA is $31.3M, dated 2020. Cite this Banesco USA Provides $31.3M Loan For Development Site In Miami-Dade County loan when underwriting similar development site product around Hialeah, Florida.
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Hialeah Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93