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Jonathan Landau Of Landau Properties Secures $74M Loan From 3650 Capital For Development Site
FINANCED
$74,000,000
Florida
See Similar DealsDevelopment Site
Financed 12/17/2024
FINANCED
Jonathan Landau Of Landau Properties Secures $74M Loan From 3650 Capital For Development Site
9551 East Bay Harbor Drive
See Similar DealsDevelopment Site
Financed 12/17/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Loan
The development site located at 9551 East Bay Harbor Drive in the Bay Harbor Islands market has a buildable square footage of 126,000. A construction loan in the amount of $74,000,000 was secured for the development of this property.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $74,000,000
- Lender: 3650 Capital
- Lender's Representative: Michael Fleischer
- Landlord: Laura & Irwin Tauber - Taubco
- Additional Landlord: Jonathan Landau - Landau Properties
- Debt Brokers: Estreich and Co
- Broker Representatives: Andrew Trench, Brian Gale & Edward Quinon - Cushman & Wakefield
Laura and Irwin Tauber partnered with Jonathan Landau to secure the financing for this project, showcasing collaboration among significant stakeholders in the development process.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,000,000.00
Monthly NOI$493,333.33
Monthly Debt Service$467,730.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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