David Burstyn And Brian Sidman's Redwood Dev Co Refinances $53 Million Multifamily Asset With Regions Bank
14301 Northwest 17th Avenue
$52,000,000
$252/SF
Building Size
206,000 SF
Asset Type
MultiFamily
Closing
Mar 26, 2025
AI
The asset involved in this transaction is a multifamily property located at 14301 Northwest 17th Avenue in the Opa Locka market. The property encompasses 142 units within a total square footage of 206,000. The refinancing of this asset was executed for a total loan amount of $53,000,000 with Regions Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Units: 142
- Square Footage: 206,000
- Lender: Regions Bank
- Landlord: David Burstyn & Brian Sidman - Redwood Dev Co
- Loan Type: Refinance
David Burstyn and Brian Sidman's company, Redwood Dev Co, completed the refinancing of the $53,000,000 agency debt structure with Regions Bank, Capital Markets Group. This property is notable as a 171-unit town home community developed by Redwood Dev Co, which is recognized as a premier workforce housing developer in Miami-Dade County.
Players
Opa Locka 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93