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51 Northwest 28th Street

Updated Oct 6, 2025

JP Perez And Zach Rosen Of Related Group And Ralph Winter Of W5 Group Secure $30.5M Refinance Loan For 217-Unit Multifamily In Miami
FINANCEDMultiFamily

JP Perez And Zach Rosen Of Related Group And Ralph Winter Of W5 Group Secure $30.5M Refinance Loan For 217-Unit Multifamily In Miami

51 Northwest 28th Street

$31,100,000

Units

217

Asset Type

MultiFamily

Closing

Sep 25, 2025

About this deal

AI

The property asset involved in this transaction is a multifamily asset located at 51 Northwest 28th Street in Miami, consisting of 217 units. The loan amount secured for this property is $30,500,000, categorized as a refinance with a loan type featuring a three-year floating-rate, including two one-year extension options.

Summary of transaction details:

This transaction involved key individuals and companies, including the lenders from 1823 Partners and the landlords JP Perez and Zach Rosen associated with Related Group, along with Ralph Winter from W5 Group. The brokerage representation included a team from Berkadia comprised of Mitch Sinberg, Michael Basinski, Matt Robbins, Brad Williamson, Matt Jackson, and Scott Wadler.

On the Map

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$31,100,000

MultiFamily

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Players

Brad Williamson

Berkadia

Broker

$7.7B

vol

123 deals

Broker
Berkadia
BerkadiaBrokerage
1823 Partners
1823 Partners Lender
Related Group
Related GroupLandlord

Ralph Winter

W5 Group

Landlord

$52.6M

vol

2 deals

Landlord
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Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $143.3K per unit across 217 units on a published $31.1M (2025).

Visit Michael (Thomas) Basinski to view all their deals.

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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

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