Updated Oct 27, 2026
Jon Rosenblatt Secures $2.4 Million Construction Loan For Development Site In Miami Beach
809 2nd Street
$2,400,000
Building Size
—
Asset Type
Development Site
Closing
Oct 22, 2026
About this deal
AI
The transaction involves a development site located at 809 2nd Street in Miami Beach. The property is associated with a loan amount of $2,400,000 designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Lender: Colorado Federal Savings Bank
- Borrower: Jon Rosenblatt
- Brokers: Daniel Kowalsky & Justin Kornreich - HKS Real Estate Advisors
- Title Company: Graeme Gelbard - Intracoastal Abstract
The deal includes key contributions from brokers Daniel Kowalsky and Justin Kornreich, representing the borrower. The title work for this transaction was handled by Graeme Gelbard from Intracoastal Abstract, acknowledging their support in the process.
On the Map
$2,400,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93