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1315 West 29th Street

Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah
FINANCEDMultiFamily

Frank Rodriguez Melo Of Cedano Realty Advisors Arranges $6.5M Refinance Loan In Hialeah

1315 West 29th Street

$6,500,000

$209/SF

Building Size

31,066 SF

Asset Type

MultiFamily

Closing

Mar 12, 2024

AI

The multifamily property located at 1315 West 29th Street in Hialeah spans 31,066 square feet and consists of 72 units. The property was refinanced for $6,500,000.

Summary of transaction details:

The loan for this transaction was facilitated by Bill Papagno from Lument. Frank Rodriguez, serving as the landlord of Coconut Grove Park, engaged Frank Rodriguez Melo from Cedano Realty Advisors as the broker for the deal.

Players

Frank Rodriguez Melo

Cedano Realty Advisors

Broker

$70.6M

vol

7 deals

Broker
Lument
LumentLender

Hialeah 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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93