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Banesco Provides $11M Construction Loan For Mixed-Use Property In Wynwood

Property Image
FINANCED
$11,000,000
Michael (Thomas) Basinski
Scott Wadler
Valerio Morabito

Florida

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Mixed-use46,072 SF
Financed 08/26/2022
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Property Image
FINANCED

Banesco Provides $11M Construction Loan For Mixed-Use Property In Wynwood

2143 Northwest 1st Avenue

See Similar Deals
Mixed-use46,072 SF
Financed 08/26/2022
Michael (Thomas) Basinski
Scott Wadler
Valerio Morabito
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$238
Total Square Footage:46,072 SF
Transaction Type:Loan

A mixed-use property located at 2143 NW 1st Ave in Wynwood has been involved in a recent transaction. The property spans a total of 46,072 square feet and includes various types of spaces for different uses.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $11,000,000
  • Lender: Banesco
  • Landlord: Valerio Morabito - Morabito Properties
  • Brokers: Scott Wadler & Mike Basinski - Berkadia
  • Loan Type: Construction

Valerio Morabito of Morabito Properties is the landlord of the property. The loan for this transaction, totaling $11,000,000, was provided by Banesco. The brokers representing the deal were Scott Wadler and Mike Basinski from Berkadia.

Players

Scott Wadler
Berkadia
Scott Wadler
160 deals$9.8B volume
BROKER
Michael (Thomas) Basinski
Berkadia
Michael Basinski
40 deals$3.7B volume
BROKER
Banesco USA
Banesco USA
LENDER
Valerio Morabito
Valerio Morabito
5 deals$71.7M volume
LANDLORD

Details

FINANCED
IMAGE: Mike Basinski, Scott Wadler & Valerio Morabito DATE: 08/26/2022 ADDRESS: 2143 NW 1st Ave MARKET: Wynwood ASSET TYPE: Mixed-use ~ SF: 46,072 LENDER: Banesco LANDLORD: Valerio Morabito - Morabito Properties BROKER: Scott Wadler & Mike Basinski - Berkadia LOAN AMOUNT: $11,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00