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4141 Northeast 2nd Avenue

LMF Commercial Provides $43.5M Refinance Loan For Mixed-Use Property In Miami Design District
FINANCEDMixed-use

LMF Commercial Provides $43.5M Refinance Loan For Mixed-Use Property In Miami Design District

4141 Northeast 2nd Avenue

$43,500,000

$385/SF

Building Size

112,896 SF

Asset Type

Mixed-use

Closing

Jul 28, 2022

AI

The mixed-use property located at 4141 NE 2nd Ave in Miami Design District has recently undergone a refinancing transaction. The property spans a total area of 112,896 square feet and is owned by DACRA, represented by Craig Robins and Alex Schapiro. The property has attracted a loan amount of $43,500,000 from LMF Commercial.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $43,500,000
  • Address: 4141 NE 2nd Ave
  • Market: Miami Design District
  • Landlord: DACRA - Craig Robins & Alex Schapiro

In facilitating the refinancing, the brokers involved in the deal were Scott Wadler, Matt Nihan, and Mike Basinski from Berkadia.

Players

Scott Wadler

Berkadia

Broker

$10.2B

vol

167 deals

Broker
LMF Commercial
LMF CommercialBrokerage
LMF Commercial
LMF CommercialLender

Craig Robins

DACRA

Landlord

$519.8M

vol

5 deals

Landlord

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

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93