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400 Hibiscus Street

Jordan Kornberg & Camilo Miguel Of Mast Capital Secures $20M Loan From S3 Capital Partners
FINANCEDDevelopment Site

Jordan Kornberg & Camilo Miguel Of Mast Capital Secures $20M Loan From S3 Capital Partners

400 Hibiscus Street

$20,000,000

$97/SF

Building Size

204,263 SF

Asset Type

Development Site

Closing

Mar 10, 2026

AI

The property asset is a development site located at 400 Hibiscus Street in West Palm Beach, FL, comprising a total square footage of 204,263. The loan amount secured for this transaction is $20,000,000, provided as a bridge loan.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $20,000,000
  • Address: 400 Hibiscus Street
  • Market: West Palm Beach, FL
  • Asset Size: 204,263 SF
  • Lender: Robert Schwartz & Steven Jemal - S3 Capital Partners
  • Sponsor: Jordan Kornberg & Camilo Miguel - Mast Capital
  • Brokers: Mike Baskinski & Scott Wadler - Berkadia
  • Loan Type: Bridge

The deal involved key individuals including Robert Schwartz and Steven Jemal representing S3 Capital Partners as lenders. The sponsors, Jordan Kornberg and Camilo Miguel from Mast Capital, collaborated in securing the financing, while the brokerage team from Berkadia consisted of Mike Baskinski and Scott Wadler facilitating the transaction.

Players

Scott Wadler

Berkadia

Broker

$10.3B

vol

169 deals

Broker
Mast Capital
Mast CapitalBuyer
Steven Jemal

Steven Jemal

S3 Capital

Lender

$3.5B

vol

127 deals

Lender

West Palm Beach 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

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93