FinanceMiami Provides $9.5M Refinance Loan For Wynwood Office Property
89 Northeast 27th Street & 89 NE 27th St, Miami, FL 33137, USA
$9,500,000
$206/SF
Building Size
46,000 SF
Asset Type
Office
Closing
Oct 28, 2022
AI
Wellmeaning Spaces, owned by Eduardo Pelaez, has refinanced its office property located at 89 NE 27th St in Wynwood, Miami. The office spans approximately 23,000 square feet. The refinance loan was provided by FinanceMiami, with a loan amount of $9,500,000.
Summary of transation details
- Property Type: Office
- Transaction Amount: $9,500,000
- Address: 89 NE 27th St
- Market: Wynwood, Miami
- Landlord: Wellmeaning Spaces - Eduardo Pelaez
- Lender: FinanceMiami
- Broker: Emile Schachter - FinanceMiami
Emile Schachter, representing FinanceMiami, facilitated the refinancing deal for Wellmeaning Spaces. This transaction allows Wellmeaning Spaces to benefit from improved financing terms and potentially pursue further investments or improvements to their office property.
Players
Miami 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93