Israel Discount Bank Provides $12M Acquisition Loan For Wynwood Development Site
FINANCED
$12,000,000
Florida
See Similar DealsDevelopment Site
Financed 09/30/2022
FINANCED
Israel Discount Bank Provides $12M Acquisition Loan For Wynwood Development Site
18 Northwest 23rd Street
See Similar DealsDevelopment Site
Financed 09/30/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
Located in Wynwood, Miami, the development site at 18 NW 23rd Street has been involved in a recent transaction. The property is a development site with a buildable square footage (BSF) of 171,842. The deal was facilitated by brokers Brian Gaswirth and Max Herzog from JLL, representing the parties involved - Alchemy ABR and Breakers Capital, the landlords.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Lender: Israel Discount Bank (IDB) – Elena Dokianos
The lender for the transaction was Israel Discount Bank (IDB), represented by Elena Dokianos. The loan amount for the deal was $12,000,000, and it was an acquisition loan.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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