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100th Street

James Curnin Of Clara Homes Secures $53.6 Million Loan From Maxim Capital Group For Bay Harbor Islands Multifamily Project
FINANCEDMultiFamily

James Curnin Of Clara Homes Secures $53.6 Million Loan From Maxim Capital Group For Bay Harbor Islands Multifamily Project

100th Street

$53,600,000

$679/SF

Building Size

78,830 SF

Asset Type

MultiFamily

Closing

Aug 7, 2024

AI

The property involved in this transaction is a multifamily asset located at 1145-1163 100th Street in Bay Harbor Islands, comprising 45 units. The construction loan for this asset amounted to $53,600,000, facilitated through Maxim Capital Group.

Summary of transaction details:

Key individuals in this transaction include Adam Glick representing Maxim Capital Group as the lender, and James Curnin as the landlord associated with Clara Homes. The brokerage team from Walker & Dunlop played a critical role in orchestrating the loan, with all brokers mentioned actively involved in the deal.

Players

Aaron Appel

Walker & Dunlop

Broker

$32.5B

vol

195 deals

Broker
Maxim Capital Group
Maxim Capital GroupLender

Surfside MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.30%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93