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:
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Lender: S3 Capital
- Landlord: Jordan Kornberg, Camilo Miguel & Jeremy Chosnek - Mast Capital; Josh Simon - Curated Group
- Broker: Scott Wadler, Mitch Sinberg, Matt Robbins, Brad Williamson & Michael Basinski - Berkadia
- Loan Type: Pre development
- Loan Terms: Floating-rate, interest-only
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
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