Updated Oct 19, 2026
Greenfield Family Secures $4 Million Acquisition Loan From Edwin Gelman For Development Site In Miami
4510 Northeast 2nd Avenue
$4,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 13, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 4510 Northeast 2nd Avenue in the Miami market, featuring a building square footage of 30,000. The acquisition loan amount is set at $4,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Lender: Edwin Gelman - Hirshmark Capital
- Landlord: Greenfield Family
- Landlord's Representative: Emile Schachter - WD Capital Group
- Loan Type: Acquisition
The key individuals facilitating this transaction include Edwin Gelman, who serves as the lender through Hirshmark Capital, and Emile Schachter, representing the landlord, the Greenfield Family, as part of WD Capital Group.
On the Map
$4,000,000
Development Site
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Players
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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93