Updated Apr 29, 2026
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
About this deal
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.
On the Map
$8,400,000
Development Site
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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