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2301 Northwest 33rd Avenue

FINANCEDMixed-use

Neology Life Development Group Secures $24.1M Note Purchase Loan In Miami

2301 Northwest 33rd Avenue

$24,100,000

$75/SF

Building Size

317,988 SF

Asset Type

Mixed-use

Closing

Apr 25, 2023

AI

The loan for the property located at 2301 Northwest 33rd Avenue in Miami has been finalized. The mixed-use asset spans a total of 317,988 square feet.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $24,100,000
  • Address: 2301 Northwest 33rd Avenue
  • Market: Miami
  • Loan Type: Note Purchase

The lender for this transaction is Forman Capital, represented by Brett Forman and Ben Jacobson. The borrower is Neology Life Development Group, represented by Lissette Calderon. Charles Foschini from Berkadia served as the broker in this deal.

Players

Charles Foschini

Berkadia

Broker

$3.3B

vol

60 deals

Broker
Forman Capital
Forman CapitalLender

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.66%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93