Ocean Bank Provides $32.4M Loan For Development Site In Miami

The Astor Companies, led by Henry Torres, has secured a $32,400,000 loan from Ocean Bank for the development site located at 61 Northwest 37th Avenue in Miami. The site spans 1.1 acres and is poised for future development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $32,400,000
• Address: 61 Northwest 37th Avenue, Miami
• Lender: Ocean Bank
• Landlord: The Astor Companies - Henry Torres
• Acres: 1.1

This loan will provide the necessary capital for The Astor Companies to proceed with their development plans for the site. The transaction was facilitated by Ocean Bank, representing a significant step forward in the project's realization.