City Middle Development Secures $20.8 Million Refinance Loan From Maxim Capital Group In Miami Beach
FINANCED
$20,800,000
Florida
See Similar DealsDevelopment Site89,038 SF
Financed 03/28/2025
FINANCED
City Middle Development Secures $20.8 Million Refinance Loan From Maxim Capital Group In Miami Beach
1601 North View Drive & 1635 West 27th Street
See Similar DealsDevelopment Site89,038 SF
Financed 03/28/2025
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$233
Total Square Footage:89,038 SF
Transaction Type:Loan
The property involved in this transaction is a development site located at 1601 North View Drive and 1635 West 27th Street in the Miami Beach market. The total square footage of the site is 44,519 with a base square footage (BSF) of 22,000. The transaction entails a loan amount of $20,800,000, categorized as a refinance.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $20,800,000
- Loan Type: Refinance
- Address: 1601 North View Drive & 1635 West 27th Street
- Market: Miami Beach
- Asset Size: SF 44,519, BSF 22,000
- Lender: Josh Greene, Adam Glick & David Chillura - Maxim Capital Group
- Landlord: City Middle Development
- Broker: Drew De Risi
Key individuals involved in this transaction include the lender representatives Josh Greene, Adam Glick, and David Chillura from Maxim Capital Group. The landlord entity for the development site is City Middle Development, while Drew De Risi serves as the broker facilitating the transaction.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,800,000.00
Monthly NOI$138,666.67
Monthly Debt Service$131,470.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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