Neil Gehani Of TF Edgewater Biscayne LLC Secures $39.9 Million Loan For Miami Land Asset
212 Northeast 23rd Street
$39,900,000
Building Size
—
Asset Type
Land
Closing
Jul 15, 2026
About this deal
AI
A loan was issued by City National Bank of Florida for a land asset located at 212 Northeast 23rd Street in Miami. The loan amount totals $39,900,000 and is associated with the transfer of ownership from TF SECOND AND 23RD LLC to TF EDGEWATER BISCAYNE LLC.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $39,900,000
- Lender: City National Bank of Florida
- Landlord: Neil Gehani - TF Edgewater Biscayne LLC
The ownership transfer and loan facilitation involved Neil Gehani, who controls the entity TF EDGEWATER BISCAYNE LLC. Additionally, Trilogy Real Estate Group is mentioned in relation to the management of the transaction.
On the Map
$39,900,000
Land
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93