Millbrook Realty Capital Provides $5.5M Acquisition Loan For Development Site In Miami
1315 Northeast Miami Court
$5,525,000
$294/SF
Building Size
18,750 SF
Asset Type
Development Site
Closing
Dec 29, 2021
AI
1315 NE Miami Court in Miami is a development site with a building square footage (BSF) of 170,625 and a total square footage (SF) of 18,750. The property was involved in a closed transaction on December 29, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,525,000
- Address: 1315 NE Miami Court, Miami
- Market: Miami
- BSF: 170,625
- SF: 18,750
Marc Yassky & Charlie Yassky are seen in the attached image of the property.
The lender involved in the transaction is Millbrook Realty Capital. The loan amount provided was $5,525,000, and the loan type was an acquisition loan. For more information about the loan, interested parties can contact Marc Yassky at 917-685-6440 or email [email protected].
Joseph Ehrman from Optimum Properties acted as the landlord in this transaction.
Players
Miami 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
2.87%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93