Updated Oct 28, 2024
Neology Life Development Group Secures $57.5M Construction Loan For Miami Multifamily
1470 Northwest 36th Street, Miami, Florida 33142, United States
$57,500,000
Units
237
Asset Type
MultiFamily
Closing
Aug 25, 2022
About this deal
AI
The multifamily property located at 1470 NW 36th Street in Miami has been involved in a recent closed transaction. The property consists of 237 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $57,500,000.00
- Address: 1470 NW 36th Street
- Market: Miami
- Units: 237
Churchill Real Estate, represented by Sean Robertson and Jeff Rosenfeld, provided a construction loan for this transaction. The loan is worth $57,500,000.00 and has a term of 24 months with two extension options. The landlord in this deal is Neology Life Development Group, represented by Lissette Calderon. The brokers involved in the transaction are Charles Foschini, Christopher Apone, and Shannon Wilson from Berkadia.
On the Map
$57,500,000
MultiFamily
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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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93