Updated Oct 10, 2026
Landau Properties Secures $29M Construction Loan For Development Site On West Bay Harbor Drive In Bay Harbor Islands
9110 West Bay Harbor Drive
$29,050,000
$433/SF
Building Size
67,000 SF
Asset Type
Development Site
Closing
Jul 31, 2023
About this deal
AI
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.
On the Map
$29,050,000
$433/SF
Development Site
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Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93