Updated Jul 8, 2026
Stormfield Capital Provides $3M Bridge Loan For Multifamily Property In Miami Beach, FL
7291 Gary Avenue
$3,000,000
$194/SF
Building Size
15,430 SF
Asset Type
MultiFamily
Closing
Oct 13, 2021
About this deal
AI
The multifamily property located at 7291 Gary Avenue in Miami Beach, FL has been involved in a recent transaction. The property spans a total of 15,430 square feet and consists of 18 units. The transaction took place on October 13, 2021.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Address: 7291 Gary Avenue, Miami Beach, FL
- Market: Miami Beach, FL
- Landlord: Lee Cohen & Arash Gohari
- Lender: Stormfield Capital - Wesley Carpenter & Daniel Heetmann
- Brokers: Max Ralby - HKS Capital Partners
- Loan Type: Bridge Loan
Wesley Carpenter and Daniel Heetmann from Stormfield Capital provided the bridge loan of $3,000,000 for this transaction. The landlord of the property is Lee Cohen and Arash Gohari. Representing the deal as brokers, Max Ralby of HKS Capital Partners facilitated the transaction.
On the Map
$3,000,000
$194/SF
MultiFamily
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Players
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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93