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228 Northwest 7th Avenue, M...

S3 Capital Provides $2.45M Construction Loan For East Little Havana Multifamily
FINANCEDMultiFamily

S3 Capital Provides $2.45M Construction Loan For East Little Havana Multifamily

228 Northwest 7th Avenue, Miami, FL 33128

$2,450,000

$490/SF

Building Size

5,000 SF

Asset Type

MultiFamily

Closing

Sep 24, 2021

AI

Located at 228 NW 7th Ave in East Little Havana, Miami, this multifamily property is a noteworthy investment. With a size of approximately 5,000 square feet, this property consists of 12 units, making it an attractive asset in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,450,000
  • Market: East Little Havana, Miami
  • Loan Amount: $2,450,000
  • Loan Type: Construction
  • Landlord: Propolis - Misha Gurevich
  • Broker: Eric Gleitman - Mercury Capital Markets

The financing for this transaction was provided by S3 Capital, a trusted lender in the industry. Representing the landlord, Propolis, is Misha Gurevich. Eric Gleitman from Mercury Capital Markets acted as the broker in this deal, bringing the parties together and facilitating a successful transaction.

Players

Eric Gleitman

Mercury Capital Markets

Broker

$126.1M

vol

24 deals

Broker
S3 Capital
S3 CapitalLender

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

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93