Silverstein Capital Partners Provides $340M Construction Loan For Mixed-Use Project In Downtown Miami | Larry Silverstein | Dan Kodsi
942 Northeast 1st Avenue, Downtown Miami, Homestead, FL, USA
$340,000,000
$151,111/SF
Building Size
2,250 SF
Asset Type
Mixed-use
Closing
Dec 12, 2021
AI
The mixed-use property located at 942 Northeast 1st Avenue in Downtown Miami has been involved in a recent loan transaction. The loan amount for this transaction is $340,000,000, and it is classified as a construction loan. The lender in this transaction is Silverstein Capital Partners, represented by Larry Silverstein. The landlord of the property is Dan Kodsi, who is associated with Royal Palm Companies.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $340,000,000
- Lender: Silverstein Capital Partners - Larry Silverstein
- Landlord: Dan Kodsi - Royal Palm Companies
This loan transaction involving the mixed-use property at 942 Northeast 1st Avenue showcases the collaboration between Silverstein Capital Partners, represented by Larry Silverstein, and the landlord, Dan Kodsi of Royal Palm Companies.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93