Updated Mar 11, 2025
Mast Capital Provides $62.5M Acquisition Loan For Development Site In Brickell, Miami
1420 South Miami Avenue, Miami, FL 33130
$62,500,000
$39/SF
Building Size
1,600,000 SF
Asset Type
Development Site
Closing
Dec 22, 2021
About this deal
AI
The development site located at 1420 S Miami Ave in Brickell, Miami was involved in a recent closed transaction. The property has a buildable square footage (BSF) of 1,600,000, making it a significant asset in the area.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $62,500,000
- Address: 1420 S Miami Ave
- Market: Brickell, Miami
- Lender: Mast Capital - Camilo Miguel Jr.
- Landlord: MSD & CanAm Enterprises
- Brokers: Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Daniel Fromm, Nick Scribani, and Daniel Matz - Newmark
The acquisition loan for this transaction was provided by Mast Capital, with Camilo Miguel Jr. representing the lender. The property's landlords are MSD and CanAm Enterprises.
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93