Updated Dec 4, 2024
Rocky Kelemer Of Meridian Capital Group Secures $4.5 Million Refinance For Miami Beach Multifamily
1535 Michigan Avenue
$4,500,000
$416/SF
Building Size
10,800 SF
Asset Type
MultiFamily
Closing
Aug 31, 2024
About this deal
AI
The property located at 1535 Michigan Avenue is a multifamily asset consisting of 24 units with a total square footage of 10,800. It is situated in the Miami Beach market and is involved in a refinancing transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Loan Type: Refinance
- Date: 08/31/2024
- Broker: Rocky Kelemer - Meridian Capital Group
Rocky Kelemer represents the broker side of this refinancing deal through Meridian Capital Group, facilitating the transaction for the multifamily asset in Miami Beach.
On the Map
$4,500,000
$416/SF
MultiFamily
View full map
Miami Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Rocky Kelemer to view all their deals.
Browse Miami Beach multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93