Abraham Bergman Secures $11.85M Acquisition Loan From Joe Moser & Mark Simon For Development Site

The transaction involves a development site located at 7410 Collins Avenue, Miami Beach. The total building square footage (BSF) is 90,000, with the site itself comprising 17,500 square feet. The loan amount for this acquisition is $11,850,000, with a term of 18 months.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $11,850,000
• Location: 7410 Collins Avenue, Miami Beach
• Asset Size: 90,000 BSF, 17,500 SF
• Lender: Joe Moser & Mark Simon - Benmark Capital
• Landlord: Abraham Bergman
• Loan Type: Acquisition
• Loan Terms: 18 months

Benmark Capital, represented by Joe Moser and Mark Simon, provided the senior mortgage loan secured by adjacent development sites that include an existing CVS and a 30,000 SF parking lot. The project is positioned in North Beach, an emerging neighborhood in Miami Beach, with approvals in place for a mixed-use development featuring condos, townhomes, office, retail, and parking.