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496 Northeast 29th Street

Joseph Stern & Roni Benjamini Landlord With Adam Westreich Secures $170M Construction Loan In Miami
FINANCEDDevelopment Site

Joseph Stern & Roni Benjamini Landlord With Adam Westreich Secures $170M Construction Loan In Miami

496 Northeast 29th Street

$170,000,000

Building Size

Asset Type

Development Site

Closing

Aug 13, 2025

AI

The property involved in this transaction is a development site located at 496 Northeast 29th Street in Miami. The transaction involves a construction loan amounting to $170,000,000, facilitated by Bravo Capital.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $170,000,000
  • Lender: Bravo Capital
  • Landlord: Joseph Stern & Roni Benjamini - SB Development
  • Additional Landlord: Adam Westreich - Hazelton Capital
  • Market: Miami
  • Loan Type: Construction

The key individuals in this transaction include Joseph Stern and Roni Benjamini, representing SB Development, along with Adam Westreich from Hazelton Capital. These individuals play significant roles as landlords in this deal, connecting the financial backing provided by Bravo Capital with the development goals set for the site.

Players

Joseph Stern

SB Development

Landlord

$594.8M

vol

7 deals

Landlord
SD
SB DevelopmentLandlord

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

0.09%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93