facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Development Site

/

Loan

/

128 Southwest 7th Street

Updated Oct 29, 2024

Wintrust Bank Provides $17.5M Land/Pre-Development Loan For Brickell Development Site
FINANCEDDevelopment Site

Wintrust Bank Provides $17.5M Land/Pre-Development Loan For Brickell Development Site

128 Southwest 7th Street

$17,500,000

Building Size

—

Asset Type

Development Site

Closing

Nov 10, 2022

About this deal

AI

A development site located at 128 SW 7th St in the Brickell neighborhood of Miami has successfully closed a loan transaction. The asset, owned by Focus Development represented by Vicky Lee, George Jalil, and Tim Anderson, attracted financing from Wintrust Bank. The loan amount for this transaction was $17,500,000, and it was categorized as a Land / Pre-Development Loan.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $17,500,000
  • Lender: Wintrust Bank
  • Landlord: Focus Development - Vicky Lee, George Jalil & Tim Anderson
  • Broker: Michael Stepniewski - Walker & Dunlop

Michael Stepniewski, representing Walker & Dunlop, played a crucial role as the broker in this deal. Their expertise and negotiation skills facilitated the successful loan transaction between Focus Development and Wintrust Bank for the development site at 128 SW 7th St in Brickell, Miami.

On the Map

Open live map

$17,500,000

Development Site

View full map

Players

Michael Stepniewski

Walker & Dunlop

Broker

$2.6B

vol

12 deals

Broker
Wintrust Bank
Wintrust BankLender
Bilt advertisement

Miami Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Deal FAQ

Visit Michael Stepniewski to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.91%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets