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FINANCED

David Arditi And Nitin Motwani Secure $95M Construction Loan For Miami Development Site

601 Northeast 1st Avenue

Development Site
clock iconFinanced 110 days ago
Holden Witkoff
Anthony de Yurre
Daniel (Danny) Matz
+ 6
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Summary

Loan
FLORIDA
Development Site

A construction loan has been secured for a development site located at 601 Northeast 1st Avenue in Miami. Spanning over 27 acres, the site has a buildable square footage (BSF) of 50,000. The loan amount obtained for this project is $95,000,000 and it has been provided by Banco Inbursa.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $95,000,000
  • Address: 601 Northeast 1st Avenue
  • Market: Miami
  • BSF: 50,000
  • Acres: 27

Nitin Motwani of Merrimac Ventures and David Arditi of Aria Development Group are the landlords involved in this transaction. Represented by their brokers Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Daniel Matz, and Holden Witkoff from Newmark, as well as Joseph Hernandez, Salomé Bascuñan, and Anthony De Yurre from Bilzin Sumberg LLP, the deal showcases their active participation in the project

Players

  • All

    10

  • Agents

    8

  • Agencies

    2

Holden Witkoff's profile picture
Holden Witkoff
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Analyst
Daniel (Danny) Matz's profile picture
$151M Sold

Details

Deal Summary
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FINANCED
IMAGE: Nitin Motwani, Jordan Roeschlaub & David Arditi DATE: 02/02/2024 ADDRESS: 601 Northeast 1st Avenue MARKET: Miami ASSET TYPE: Development Site ~ BSF: 50,000 ~ ACRES: 27 LENDER: Banco Inbursa LANDLORD: Nitin Motwani - Merrimac Ventures, David Arditi - Aria Development Group (@AriaDevelopmentGroup) BROKERS: Jordan Roeschlaub (@JordyRoeschlaub), Dustin Stolly, Nick Scribani (@ScribSays), Daniel Matz (@MatzyPants) & Holden Witkoff (@HWitkoff29) - Newmark (@Newmark); Joseph Hernandez, Salomé Bascuñan & Anthony De Yurre (@Miamizoninglaw) - Bilzin Sumberg LLP (@BilzinLaw) LOAN AMOUNT: $95,000,000 LOAN TYPE: Construction Loan

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Address601 Northeast 1st Avenue

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