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400 Hibiscus Street

Jordan Kornberg, Camilo Miguel & Jeremy Chosnek Of Mast Capital Secure $20M Loan For Development Site In West Palm Beach
FINANCEDDevelopment Site

Jordan Kornberg, Camilo Miguel & Jeremy Chosnek Of Mast Capital Secure $20M Loan For Development Site In West Palm Beach

400 Hibiscus Street

$20,000,000

Building Size

Asset Type

Development Site

Closing

Mar 6, 2026

AI

The asset involved in this transaction is a development site located at 400 Hibiscus Street in West Palm Beach. The loan amount is $20,000,000, categorized as a pre-development loan with floating-rate, interest-only terms.

Summary of transaction details:

The individuals involved in this deal represent key players from their respective companies, with Jordan Kornberg, Camilo Miguel, and Jeremy Chosnek representing Mast Capital as landlords, while Josh Simon represents Curated Group. The brokers from Berkadia involved in the transaction include Scott Wadler, Mitch Sinberg, Matt Robbins, Brad Williamson, and Michael Basinski.

Players

Brad Williamson

Berkadia

Broker

$7.1B

vol

114 deals

Broker
S3 Capital
S3 CapitalLender
Mast Capital
Mast CapitalLandlord
Mast Capital
Mast CapitalLandlord
Josh Simon

Josh Simon

Landlord

$76.8M

vol

2 deals

Landlord
Mast Capital
Mast CapitalLandlord

West Palm Beach Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

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