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City National Bank Provides $60M Construction Loan For Sunset Harbor Office Project

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FINANCED
$60,000,000
Danny Matz
Dustin Stolly
Christopher (Chris) Kramer
+ 3

Florida

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Office60,000 SF
Financed 01/28/2022
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Property Image
FINANCED

City National Bank Provides $60M Construction Loan For Sunset Harbor Office Project

1752 Bay Road, Miami Beach, Florida 33139, United States

See Similar Deals
Office60,000 SF
Financed 01/28/2022
Danny Matz
Dustin Stolly
Christopher (Chris) Kramer
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$1,000
Total Square Footage:60,000 SF
Transaction Type:Loan

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

Dustin Stolly
Walker & Dunlop
Dustin Stolly
267 deals$49.4B volume
BROKER
Nick Scribani
Newmark
Nick Scribani
193 deals$55.3B volume(212) 372-2113
BROKER
Daniel Fromm
Newmark
Daniel Fromm
82 deals$5.3B volume
BROKER
Christopher (Chris) Kramer
Newmark
Christopher Kramer
114 deals$23B volume(212) 850-5472
BROKER
Danny Matz
Newmark
Danny Matz
28 deals$3.3B volume
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
324 deals$97.5B volume
BROKER
City National Bank
City National Bank
LENDER
DC
Deco Capital
LANDLORD
RP
RWN Real Estate Partners
LANDLORD

Details

FINANCED
IMAGE: Daniel Matz, Daniel Fromm, Jordan Roeschlaub, Nick Scribani & Dustin Stolly DATE: 01/28/2022 ADDRESS: 1752 Bay Road - 18 Sunset MARKET: Sunset Harbor ASSET TYPE: Office ~ SF : 60,000 LENDER: City National Bank LANDLORD: Deco Capital & RWN Real Estate Partners BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub), Chris Kramer, Daniel Fromm (@Ddwb), Nick Scribani & Daniel Matz - Newmark LOAN AMOUNT: $60,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,000,000.00

Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00