Macken Companies Secures $16.5M Construction Loan For North Miami Beach Multifamily
4098 Northeast 167th Street, North Miami Beach, Florida 33160, United States
$16,500,000
$616/SF
Building Size
26,773 SF
Asset Type
MultiFamily
Closing
Jul 27, 2022
AI
A loan of $16,500,000 was secured for a multifamily property located at 4098 NE 167th St in North Miami Beach. The property consists of 10 units and has a total square footage of 26,773. The loan was provided by LV Lending, with Camilo Niño, Ricardo Uribe, and Alen Hernandez serving as representatives from the lending company. The construction loan was obtained from LV Lending.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Address: 4098 NE 167th St
- Market: North Miami Beach
- Units: 10
- Square Footage: 26,773
The landlord for this property is Macken Companies, represented by Alan S. Macken. They played a vital role in the transaction, ensuring the successful completion of the deal.
Players
North Miami Beach 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93