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1850 John F Kennedy Causeway

Updated Aug 14, 2025

Masoud Shojaee Secures $29.85 Million Refinance Loan For Development Site In North Bay Village
FINANCEDDevelopment Site

Masoud Shojaee Secures $29.85 Million Refinance Loan For Development Site In North Bay Village

1850 John F Kennedy Causeway

$29,850,000

Building Size

—

Asset Type

Development Site

Closing

Aug 5, 2025

About this deal

AI

The asset involved in this transaction is a development site located at 1850 John F Kennedy Causeway in North Bay Village. The loan amount secured for this property is $29,850,000, aimed at refinancing the existing obligations associated with the asset.

Summary of transaction details:

This deal features key representatives such as Michael Horowitz and Adam Horowitz from Cooper Horowitz, who played significant roles in facilitating the transaction for the borrower, Masoud Shojaee. The involvement of Forman Capital as lenders indicates a strategic financial collaboration aimed at enhancing property development in the area.

On the Map

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$29,850,000

Development Site

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Players

Michael Horowitz

Cooper Horowitz

Broker

$1.2B

vol

26 deals

Broker
Cooper Horowitz
Cooper HorowitzBrokerage
Ben Jacobson

Ben Jacobson

Forman Capital

Lender

$300.4M

vol

11 deals

Lender
Forman Capital
Forman CapitalLender
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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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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