Keren Capital Group Finances Miami Beach Development Site With $42.5M Construction Loan

Located at 340 West 42nd Street in Miami Beach, FL, the development site is a prime asset with 34,496 square feet and a buildable square footage of 168,691. The property is the subject of a construction loan totaling $42,500,000 provided by Cross River Bank. The loan terms are set at 9+6 months, highlighting the short-term nature of the financial arrangement. The transaction involves Shimon Eisikowicz, Yigal Y. Niasoff, and Yankel Korolitzky acting as the brokers, representing Keren Capital Group.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $42,500,000
• Market: Miami Beach, FL
• Loan Type: Construction
• Lender: Cross River Bank
• Brokers: Yankel Korolitzky & Yigal Y. Niasoff - Keren Capital Group

Yankel Korolitzky and Yigal Y. Niasoff from Keren Capital Group are key individuals in this transaction, providing insight into the refinancing of a mid construction condo project in Miami Beach. The loan, facilitated by Cross River Bank, underscores the complexity of the deal with its 9+6 months term. For inquiries and potentially challenging deals, interested parties are encouraged to contact Keren Capital at 718-245-1500 or reach out directly to Yankel at 917-674-0791 and Yigal at 917-363-4837, respectively.