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18330 Northwest 12th Avenue

Michael Swerdlow And Oliver Gross Secure $63 Million Loan For Serenity Gardens In Miami Gardens
FINANCEDDevelopment Site

Michael Swerdlow And Oliver Gross Secure $63 Million Loan For Serenity Gardens In Miami Gardens

18330 Northwest 12th Avenue

$63,000,000

Building Size

Asset Type

Development Site

Closing

Aug 7, 2026

AI

This development site spans 7.3 acres and is located at 18330 Northwest 12th Avenue in Miami Gardens, Florida. It is part of a project named Serenity Gardens, which will feature 153 units of affordable seniors housing. The total amount of financing secured for this construction project is $63 million.

Summary of transaction details:

Michael Swerdlow represents SG Holdings while Oliver Gross represents New Urban Development in this transaction. The financing will leverage low-income housing tax credit equity, and the project's completion is expected by late 2028.

Players

Michael Swerdlow

Swerdlow Group

Broker

$11.5M

vol

1 deal

Broker
SH
SG HoldingsBuyer
Michael Swerdlow

Michael Swerdlow

SG Holdings

Landlord

$11.5M

vol

1 deal

Landlord

Chaptico 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

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93