Sheridan Capital Provides $18M Bridge Loan For Mixed-Use Property In Miami
633 Northeast 167th Street & 633 Northeast 167th Street, Miami, Florida 33162, United States
$18,000,000
$76/SF
Building Size
236,250 SF
Asset Type
Office
Closing
May 31, 2022
AI
A mixed-use property located at 633 NE 167th St in Miami has been involved in a recent closed transaction. The property spans approximately 118,125 square feet and is situated in a desirable market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $18,000,000
- Address: 633 NE 167th St
- Market: Miami
- Loan Amount: $18,000,000
- Loan Type: Bridge Loan
The loan for this transaction was provided by Sheridan Capital, with Joe Fishman representing the lender. There are no additional details available regarding the individuals or companies involved in the deal.
Players
North 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93