Updated Apr 16, 2026
Joe Moinian Of The Moinian Group Lands $188 Million Refinance Loan For Multifamily Asset In Miami
650 Northeast 22nd Street
$188,000,000
Units
434
Asset Type
MultiFamily
Closing
Apr 9, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily asset located at 650 Northeast 22nd Street in the Miami market, consisting of 434 units. The transaction involves a refinance loan amount of $188,000,000 facilitated by prominent lenders.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $188,000,000
- Lender: Stephen A. Schwarzman & Jon Gray - Blackstone
- Landlord: Joe Moinian - The Moinian Group
- Landlord's Representative: Drew Fletcher, Bryan Grover, Jesse Kopecky & Ryan Cohen - Greystone
This transaction highlights the involvement of high-profile individuals and companies, showcasing the prominent figures such as Stephen A. Schwarzman and Jon Gray representing Blackstone, and Joe Moinian representing The Moinian Group in managing the asset with the support of their brokers from Greystone.
On the Map
$188,000,000
MultiFamily
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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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93