Updated Oct 29, 2024
City National Bank Provides $18.7M Loan For Dev Site In Opa-locka
1719 NW 143rd St, Opa-locka, FL 33054, USA
$18,700,000
$13,357/SF
Building Size
1,400 SF
Asset Type
Development Site
Closing
Aug 26, 2020
About this deal
AI
A development site located at 1719 NW 143rd St in Opa-locka has been involved in a recent closed transaction. The lender, City National Bank, provided a loan of $18,700,000 for the property. The landlord, Redwood National Properties, completed the deal with the assistance of broker Andrew Kurnit. The asset type of the property is a development site, and it consists of 112 units.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $18,700,000
- Address: 1719 NW 143rd St
- Market: Opa-locka
- Lender: City National Bank
- Landlord: Redwood National Properties
- Broker: Andrew Kurnit
- Units: 112
In this deal, Andrew Kurnit represented Redwood National Properties as their broker. The transaction took place on 08/27/2020, and the property is located in Opa-locka market. The loan provided by City National Bank amounted to $18,700,000. The development site consists of 112 units and is owned by Redwood National Properties.
Players
Opa Locka 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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93