Javier Herrera & Nick Sumpter Of FSCA Refinance $10M Loan On Miami Development Site
1515 Northwest South River Drive
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 1, 2024
AI
The development site located at 1515 Northwest South River Drive in Miami, boasting a buildable square footage of 72,500, recently underwent a refinancing process amounting to $10,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Address: 1515 Northwest South River Drive
- Market: Miami
- Asset Type: Development Site
- BSF: 72,500
- Brokers: Javier Herrera & Nick Sumpter - FSCA
- Loan Type: Refinance
Javier Herrera and Nick Sumpter from FSCA were the brokers who facilitated the $10,000,000 refinancing of the development site at 1515 Northwest South River Drive in Miami.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93