Fisher Brothers Secures $117.5M Construction Loan For Wynwood Multifamily Property
2200 NW 1st Ave Miami, FL 33127, USA
$177,500,000
$739/SF
Building Size
240,000 SF
Asset Type
MultiFamily
Closing
Jun 29, 2023
AI
Located at 2200 NW First Avenue in Wynwood, this multi-family property consists of 308 units and spans across 240,000 square feet. The transaction involved a loan for the construction of the property.
Summary of Transaction Details
- Property Type: MultiFamily
- Loan Amount: $117,500,000
- Lender: JP Morgan - Aaron Casden, Canyon Partners - Jacob Feingold
- Landlord: Fisher Brothers - Winston Fisher
- Brokers: Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Michael Ianno & Michael Diaz - Walker & Dunlop
The key individuals and companies involved in this transaction include Aaron Casden from JP Morgan, Jacob Feingold from Canyon Partners, and Winston Fisher from Fisher Brothers. The deal was facilitated by brokers Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Mo Beler, Michael Ianno, and Michael Diaz from Walker & Dunlop.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93