Mike Bokzam Secures $25 Million Construction Loan From Steven Jemal For Mixed-use Property In Delray Beach
318 Southeast 5th Avenue
$25,000,000
$466/SF
Building Size
53,570 SF
Asset Type
Mixed-use
Closing
Sep 28, 2026
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 318 Southeast 5th Avenue in Delray Beach. The property comprises 26 units and has a total area of 53,570 square feet. A construction loan was secured for the amount of $25,000,000.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $25,000,000
- Address: 318 Southeast 5th Avenue
- Market: Delray Beach
- Units: 26
- Square Footage: 53,570
- Lender: Steven Jemal - S3 Capital
- Borrower: Mike Bokzam
- Broker: Nelson Garcia - RARE CRE
- Loan Type: Construction
The key individuals involved in this transaction include Mike Bokzam as the borrower and Steven Jemal representing S3 Capital as the lender. Nelson Garcia from RARE CRE acted as the broker facilitating the deal.
On the Map
$25,000,000
$466/SF
Mixed-use
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Delray 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93