Valley Bank Provides $91M Bridge Loan For Mixed-Use Property In Miami
129 NW 26th St Miami, FL 33127, USA
$91,000,000
$505/SF
Building Size
180,000 SF
Asset Type
Mixed-use
Closing
May 19, 2023
About this deal
AI
The mixed-use property located at 129 Northwest 26th Street in Miami has recently undergone a closed property transaction. Spanning across 180,000 square feet, this asset offers a versatile space for various purposes.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $91,000,000
- Lender: Valley Bank - Ira Robbins
- Landlord: Charles Kushner & Laurent Morali
- Landlord's Representative: Newmark - Jordan (Jordy) Roeschlaub, Dustin Stolly, Chris Kramer & Daniel (Danny) Matz
- Loan Type: Bridge Loan
The transaction involved various key individuals and companies. Ira Robbins, from Valley Bank, served as the lender for this deal. The landlord of the property is Charles Kushner and Laurent Morali. Representing the landlord's interests, the Newmark team, comprised of Jordan (Jordy) Roeschlaub, Dustin Stolly, Chris Kramer, and Daniel (Danny) Matz, facilitated the transaction.
On the Map
$91,000,000
$505/SF
Mixed-use
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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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93