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29 Ne 29 St

William Weisman & Daniel Mandel Secure $8,400,000 Refinance Loan For Development Site In Miami
FINANCEDDevelopment Site

William Weisman & Daniel Mandel Secure $8,400,000 Refinance Loan For Development Site In Miami

29 Ne 29 St

$8,400,000

Building Size

Asset Type

Development Site

Closing

Mar 22, 2026

AI

The property involved is a development site located at 29-31 Northeast 29th Street in the Miami market. The transaction is a refinance totaling $8,400,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $8,400,000
  • Lender: Flagler Credit Union
  • Landlord: William Weisman & Daniel Mandel
  • Landlord's Representative: Jason Hochman & Ronald Granite - Cushman & Wakefield
  • Loan Type: Refinance

Key individuals involved in the transaction include the landlords William Weisman and Daniel Mandel, who own the property, and the lenders represented by Flagler Credit Union. The representation for the landlords comes from Jason Hochman and Ronald Granite of Cushman & Wakefield, who facilitated the negotiation and terms of the refinance loan.

Players

Jason Hochman

Cushman & Wakefield

Broker

$1B

vol

28 deals

Broker
Flagler Credit Union
Flagler Credit UnionLender

Miami 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

1.89%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93