Updated Jun 5, 2025
LeFrak Organization & Turnberry Associates Secure $32M Loan For North Miami Multifamily
15055 Biscayne Blvd, North Miami, FL, USA
$32,000,000
$4,847/SF
Building Size
6,601 SF
Asset Type
MultiFamily
Closing
Mar 30, 2021
About this deal
AI
Located at 15055 Biscayne Blvd in North Miami, this closed property transaction involves a multifamily asset. The deal was finalized on March 31, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $32,000,000
- Number of Units: 187
- Lot Size: 2.55 acres
JPMorgan Chase Bank, represented by Jamie Dimon, provided a loan of $32,000,000 for this transaction. The property's landlords are the LeFrak Organization, represented by Richard LeFrak, and Turnberry Associates, represented by Jackie Soffer.
The multifamily loan at 15055 Biscayne Blvd, North Miami, FL, USA in North Miami, Florida financed for $32M in 2021. Reported inventory is 6,601 square feet across 187 units, or about 4.8K per square foot. This page is the North Miami, Florida file for the 15055 Biscayne Blvd, North Miami, FL, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same North Miami sit in the Market section below. Filter that North Miami multifamily set by closing date to see what else financed near 15055 Biscayne Blvd, North Miami, FL, USA around 2021. Published consideration for 15055 Biscayne Blvd, North Miami, FL, USA is $32M, dated 2021. Cite this LeFrak Organization & Turnberry Associates Secure $32M Loan For North Miami Multifamily loan when underwriting similar multifamily product around North Miami, Florida.
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North Miami MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93