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Landau Properties Secures $29M Construction Loan For Development Site On West Bay Harbor Drive In Bay Harbor Islands

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FINANCED
$29,050,000
Isaac Lustgarten
Oren Alexander
RL
+ 1

Florida

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Development Site67,000 SF
Financed
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FINANCED

Landau Properties Secures $29M Construction Loan For Development Site On West Bay Harbor Drive In Bay Harbor Islands

9110 West Bay Harbor Drive

See Similar Deals
Development Site67,000 SF
Financed
Isaac Lustgarten
Oren Alexander
RL
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$433
Total Square Footage:67000 SF
Transaction Type:Loan

The property involved in this transaction is a development site located at 9110 West Bay Harbor Drive in Bay Harbor Islands. It spans an area of 67,000 square feet. The property is owned by Landau Properties, represented by Jonathan Landau and Dc Lowinger, while the lender is BridgeInvest, represented by Alex Horn and Jon Gitman.

Summary of transaction details

  • Property Type: Development Site
  • Address: 9110 West Bay Harbor Drive
  • Market: Bay Harbor Islands
  • Lender: BridgeInvest - Alex Horn & Jon Gitman
  • Landlord: Landau Properties - Jonathan Landau & Dc Lowinger
  • Lender's Representative: Raffi Landau - Estreich & Company
  • Landlord's Representative: Isaac Lustgarten & Oren Alexander - Official
  • Loan Amount: $29,050,000
  • Loan Type: Construction

The deal involved several key individuals and companies. Raffi Landau of Estreich & Company acted as the lender's representative for BridgeInvest. On the other hand, Isaac Lustgarten and Oren Alexander, officials of Landau Properties, represented the landlord in this transaction.

Players

Isaac Lustgarten
The Corcoran Group
Isaac Lustgarten
24 deals$262.6M volume(305) 450-8045
BROKER
Oren Alexander
Official
Oren Alexander
106 deals$2B volume(305) 610-4559
BROKER
RL
Estreich and Company
Raffi Landau
4 deals$188.4M volume
BROKER
BridgeInvest
BridgeInvest
LENDER
Jonathan Landau
Jonathan Landau
8 deals$2B volume
LANDLORD
Jonathan Landau
Jonathan Landau
8 deals$2B volume
LANDLORD

Details

FINANCED
IMAGE: Dc Lowinger, Jon Gitman, Jonathan Landau, Alex Horn, Oren Alexander, Raffi Landau & Isaac Lustgarten DATE: 07/31/2023 ADDRESS: 9110 West Bay Harbor Drive MARKET: Bay Harbor Islands ASSET TYPE: Development Site ~ SF: 67,000 LENDER: BridgeInvest (@BridgeInvest)- Alex Horn & Jon Gitman LANDLORD: Landau Properties (@Landau_Properties) - Jonathan Landau & Dc Lowinger (@DcLowinger) LENDER'S REP: Raffi Landau - Estreich & Company LANDLORD'S REP: Isaac Lustgarten (@isaac_lustgarten)& Oren Alexander (@orenalexander) - Official (@Officialpartners) LOAN AMOUNT: $29,050,000 LOAN TYPE: Construction NOTE FROM LANDLORD'S: Indian Creek Residences (@IndianCreekResidences) & Yacht Club combined the comfort of serviced amenities with the intimacy of a private dwelling. Both indoors and outdoors, wellness amenities are designed to integrate seamlessly with the waterfront, constructed in a cohesive natural palette that is both decadent and subdued. Sand-toned wood, travertine stone, and bronze elegantly harmonize with the building's lush, tropical landscaping by @enealandscapearchitecture. Together, these details mark a truly unique composition that provides a peaceful respite to Miami's otherwise crowded high-rise landscape. Follow for more updates.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,050,000.00

Monthly NOI$193,666.67
Monthly Debt Service$183,615.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00