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16300 Northeast 19th Avenue

Edwin Gelman & Britney Shenkman Of Hirshmark Capital Provide $4,250,000 Refinance Loan In North Miami Beach
FINANCEDDevelopment Site

Edwin Gelman & Britney Shenkman Of Hirshmark Capital Provide $4,250,000 Refinance Loan In North Miami Beach

16300 Northeast 19th Avenue

$4,250,000

Building Size

Asset Type

Development Site

Closing

Jun 12, 2026

AI

The property asset involved in the transaction is a development site located at 16300 Northeast 19th Avenue in North Miami Beach. The loan amount for the property has been set at $4,250,000, classified as a refinance loan.

Summary of transaction details:

The deal features loan representatives Edwin Gelman and Britney Shenkman from Hirshmark Capital, indicating a strategic financial maneuver in collaboration with the landlord, Safe Harbor.

Players

Edwin Gelman

Hirshmark Capital

Lender

$22.1M

vol

5 deals

Lender
Hirshmark Capital
Hirshmark CapitalLender

North Miami Beach 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

3.73%

Cash-on-Cash

-1.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93