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3370 Florida Avenue

Albert Arisso & Frank Hermosa Of Vertix Group Provide $6.7M Construction Loan For Miami Development Site
FINANCEDDevelopment Site

Albert Arisso & Frank Hermosa Of Vertix Group Provide $6.7M Construction Loan For Miami Development Site

3370 Florida Avenue

$6,700,000

Building Size

Asset Type

Development Site

Closing

Jul 20, 2026

AI

The property involved in this transaction is a development site located at 3370 Florida Avenue in Miami. It is designated for the construction of four luxury townhomes, which have been designed by Arquitectonica. The loan amount for this project totals $6,700,000, classified as a construction loan.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $6,700,000
  • Address: 3370 Florida Avenue
  • Market: Miami
  • Lender: Albert Arisso & Frank Hermosa - Vertix Group
  • Borrower: Alchemy Group & PEND (canopycoconutgrove.com)
  • Loan Type: Construction

Albert Arisso and Frank Hermosa represent Vertix Group in this transaction as lenders. The borrowers, Alchemy Group and PEND, are the parties seeking financing to proceed with the development of the luxury townhomes at the specified address.

Players

Albert Arisso

Vertix Group

Lender

$172.1M

vol

12 deals

Lender

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

2.37%

Cash-on-Cash

-0.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93