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:
- Property Type: Multifamily
- Transaction Amount: $53,600,000
- Lender: Maxim Capital Group – Adam Glick
- Landlord: James Curnin - Clara Homes
- Brokers: Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Ianno, Christopher de Raet & Marlon Robins - Walker & Dunlop
- Loan Type: Construction
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
Surfside MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
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