Updated Mar 11, 2025
Neology Life Development Group Recapitalizes Allapattah Multifamily With $31M Loan From Harbor Group International - Charles Foschini & Christopher Apone Represented The Deal
1569 NW 17th Ave, Allapattah, Miami, FL, USA
$31,000,000
$35,428/SF
Building Size
875 SF
Asset Type
MultiFamily
Closing
Aug 31, 2021
About this deal
AI
A recapitalization loan of $31,000,000 was secured by Neology Life Development Group for their multifamily property located at 1569 NW 17th Ave in Allapattah, Miami. The property consists of 192 units and is situated in a prime location within the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Units: 192
- Address: 1569 NW 17th Ave, Allapattah, Miami
- Market: Allapattah, Miami
The recapitalization loan was provided by Harbor Group International. Representing Neology Life Development Group in the deal were brokers Charles Foschini and Christopher Apone from Berkadia. They played a crucial role in facilitating the transaction and ensuring its successful completion.
On the Map
$31,000,000
$35,428/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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93