Millbrook Realty Capital Provides $20M Acquisition Loan For One NE 1st Street In Downtown Miami Jewelry District
1 Northeast 1st Street
$20,000,000
$88/SF
Building Size
225,000 SF
Asset Type
Mixed-use
Closing
Jan 18, 2024
AI
One NE 1st Street in the Downtown Miami Jewelry District has recently closed a mixed-use property transaction. The property spans across 225,000 square feet, offering a versatile space for various purposes. The transaction took place on January 18, 2024.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $20,000,000
- Address: One NE 1st Street
- Market: Downtown Miami Jewelry District
- Lender: Millbrook Realty Capital
- Landlord: Elysee Investments
The loan, provided by Millbrook Realty Capital, facilitated the acquisition of the property. This acquisition loan amounted to $20,000,000. Elysee Investments acted as the landlord in the transaction, representing their interests in the deal.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93