Sheridan Capital Provides $11 Million Refinancing Loan For Office Asset In Miami Beach
301 41st Street
$11,000,000
$277/SF
Building Size
39,638 SF
Asset Type
Office
Closing
Jul 17, 2024
About this deal
AI
The property asset involved in the transaction is located at 301 41st Street, Miami Beach, and consists of an office space totaling 39,638 square feet. The loan amount for this refinance transaction is $11,000,000.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $11,000,000
- Lender: Sheridan Capital
- Broker: Noam Temchin - FM Capital
- Loan Type: Refinance
- Date: 07/17/2024
The key individuals involved in the deal include Noam Temchin representing FM Capital. The transaction was facilitated under the financing provided by Sheridan Capital.
On the Map
$11,000,000
$277/SF
Office
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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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93