Updated Dec 4, 2024
Neology Life Development Group Refinances Multifamily Property In Allapattah With $31.5M Loan From Fannie Mae
1569 Northwest 17th Avenue
$31,456,000
$163,833/SF
Building Size
192 SF
Asset Type
MultiFamily
Closing
Sep 29, 2023
About this deal
AI
A multifamily property located at 1569 Northwest 17th Avenue in the Allapattah market has undergone a refinancing transaction. The property consists of 192 units and is owned by Neology Life Development Group. The loan, amounting to $31,456,000, was provided by Fannie Mae.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,456,000
- Units: 192
- Address: 1569 Northwest 17th Avenue
- Market: Allapattah
In this refinancing deal, the landlord's representatives involved were Charles Foschini, Christopher Apone, and Shannon Wilson from Berkadia.
On the Map
$31,456,000
$163,833/SF
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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93