Ocean Bank Refinances Package Deal In Miami For $3.8M With Landlord Maria Perera, Broker Ziv Cohen - Refined
102 NW 36th St Miami, FL 33127, USA, 102 NW 36th St Miami, FL 33127, USA & 102 NW 36th St Miami, FL 33127, USA
$3,819,900
$31/SF
Building Size
120,000 SF
Asset Type
MultiFamily
Closing
May 27, 2023
AI
The package deal in Miami, consisting of four properties located at 102 Northwest 36th Street, 120 Northwest 36th Street, 6991 Northwest 51st Street, and 7001 Northwest 51st Street, has been closed. The total square footage of the properties is 12,690. The loan for this transaction was provided by Ocean Bank, with a loan amount of $3,819,900. The loan type for this deal was a refinance.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $3,819,900
- Lender: Ocean Bank
- Landlord: Maria Perera
- Broker: Ziv Cohen - Refined
Maria Perera served as the landlord for this transaction, while Ziv Cohen from Refined represented the buyer. This refinance deal allowed the buyer to secure financing for the package deal in Miami. The involvement of Ocean Bank as the lender facilitated the successful completion of the transaction.
Players
Miami 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
4.15%
Cash-on-Cash
-1.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93