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
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