City National Bank Provides $60M Construction Loan For Sunset Harbor Office Project
1752 Bay Road, Miami Beach, Florida 33139, United States
$60,000,000
$1,000/SF
Building Size
60,000 SF
Asset Type
Office
Closing
Jan 27, 2022
AI
Located at 1752 Bay Road in the Sunset Harbor market, this office property spans 60,000 square feet. The transaction was closed on 01/28/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $60,000,000
- Address: 1752 Bay Road - 18 Sunset
- Market: Sunset Harbor
The lender for this transaction was City National Bank. The property is owned by Deco Capital and RWN Real Estate Partners. The brokers involved in the deal were Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Daniel Fromm, Nick Scribani, and Daniel Matz from Newmark. The loan provided for the transaction was a construction loan.
Players
Miami Beach Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93