Updated Nov 18, 2025
Bank OZK Provides $87.5M Loan For Wynwood Development Site On Northwest 3rd Avenue
2801 Northwest 3rd Avenue, Wynwood, Miami, FL, USA
$87,500,000
$6,340/SF
Building Size
13,800 SF
Asset Type
Development Site
Closing
Jan 12, 2021
About this deal
AI
A development site located at 2801 Northwest 3rd Avenue in Wynwood has secured a loan of $87,500,000 from Bank OZK. The property, owned by The Related Group represented by Jon Paul Pérez, Alex Karakhanian, Scott Sherman, and Ben Mandel of Tricera Capital, is a development site in the Wynwood market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $87,500,000
- Address: 2801 Northwest 3rd Avenue
- Market: Wynwood
The loan was provided by Bank OZK to support the development site located at 2801 Northwest 3rd Avenue in Wynwood. The Related Group, represented by Jon Paul Pérez, Alex Karakhanian, Scott Sherman, and Ben Mandel of Tricera Capital, acted as the landlord in this transaction. Their involvement highlights their commitment to the development of the Wynwood market and their belief in the potential of this property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93