Updated Oct 29, 2024
Israel Discount Bank Provides $12M Acquisition Loan For Wynwood Development Site
18 Northwest 23rd Street
$12,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 30, 2022
About this deal
AI
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.
On the Map
$12,000,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93