INB Bank Provides $3.6M Refinance Loan For 228 NW 7th Avenue Multifamily In Miami
228 Nw 7th Ave Miami, Fl 33128, Usa
$3,600,000
$360/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Apr 21, 2023
AI
The multifamily property located at 228 NW 7th Avenue in Miami has recently undergone a refinance loan transaction. The property spans approximately 10,000 square feet and is owned by The Propolis, represented by Misha Gurevich.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Loan Type: Refinance
The lender for this transaction was INB Bank. WD Capital Group, represented by Emile Schachter, acted as the broker in the deal.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93