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758 Northwest 2nd Street

Fernando Murzi, Ivanna Jimenez Ruiz & Jesus Luongo Secure $17M Construction Loan For Miami Condominiums
FINANCEDMultiFamily

Fernando Murzi, Ivanna Jimenez Ruiz & Jesus Luongo Secure $17M Construction Loan For Miami Condominiums

758 Northwest 2nd Street

$17,000,000

Building Size

Asset Type

MultiFamily

Closing

Feb 26, 2026

AI

The asset involved in this transaction is a condominium property located at 758 Northwest 2nd Street in the Miami market. The loan amount secured for this construction project is $17,000,000.

Summary of transaction details:

  • Property Type: Condominiums
  • Transaction Amount: $17,000,000
  • Landlord: Fernando Murzi, Ivanna Jimenez Ruiz & Jesus Luongo - Forth Development
  • Brokers: Max La Cava, Pier Barinci & Magnus Kron - JLL
  • Loan Type: Construction

This transaction highlights the involvement of significant individuals and entities. The landlord, Forth Development, is represented by Fernando Murzi, Ivanna Jimenez Ruiz, and Jesus Luongo, while the brokers facilitating the deal are Max La Cava, Pier Barinci, and Magnus Kron from JLL.

Players

Max La Cava

JLL

Broker

$1.5B

vol

44 deals

Broker

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

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93