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
About this deal
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.
On the Map
$43,500,000
$385/SF
Mixed-use
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Players
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