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942 Northeast 1st Avenue, D...

Silverstein Capital Partners Provides $340M Construction Loan For Mixed-Use Project In Downtown Miami | Larry Silverstein | Dan Kodsi
FINANCEDMixed-use

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

Silverstein Capital Partners
Silverstein Capital PartnersLender

Dan Kodsi

Royal Palm Companies

Landlord

$1B

vol

13 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

0.05%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93