FinanceMiami Refinances Mixed-Use Property On Lenox Avenue In Miami Beach For $2.8M
1615 Lenox Avenue
$2,800,000
$169/SF
Building Size
16,500 SF
Asset Type
Mixed-use
Closing
Nov 11, 2022
About this deal
AI
The mixed-use property located at 1611-1615 Lenox Avenue in Miami Beach has recently undergone a refinancing transaction. With a total square footage of 16,500, this property offers a versatile space for multiple uses.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,800,000
- Address: 1611-1615 Lenox Avenue, Miami Beach
- Market: Miami Beach
- Lender: FinanceMiami
- Landlord: Real Properties Lenox – Eduardo Pelaez
- Broker: Emile Schachter - FinanceMiami
- Loan Type: Refinance
FinanceMiami served as the lender in this transaction, providing a loan amount of $2,800,000. The landlord, Real Properties Lenox represented by Eduardo Pelaez, successfully secured the refinancing for the property. Emile Schachter from FinanceMiami acted as the broker, assisting in the refinancing process.
On the Map
$2,800,000
$169/SF
Mixed-use
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Players
Miami Beach 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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93