Updated Dec 4, 2024
Kawa Provides $82.5M Construction Loan For 2000 Park Ave Development Site In Miami Beach
2000 Park Avenue, Miami Beach, Florida 33139, United States
$82,500,000
Building Size
—
Asset Type
Development Site
Closing
Feb 12, 2022
About this deal
AI
Located in Miami Beach, the development site at 2000 Park Avenue has recently undergone a closed property transaction. The asset, owned by Joseph Chetrit of the Chetrit Group, has been the subject of a construction loan provided by Kawa. The loan amount totals $82,500,000, securing the necessary funding for the property's development.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $82,500,000
- Address: 2000 Park Avenue
- Market: Miami Beach
Assisting in the transaction, Henry Bodek from Galaxy Capital represented Joseph Chetrit as the broker. With their expertise, the deal was successfully facilitated, ensuring the necessary funds were in place for the development of the property.
Players
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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93