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89 Northeast 27th Street

FinanceMiami Provides $9.5M Refinance Loan For Wynwood Office Property
FINANCEDOffice

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

Emile Schachter

WD Capital Group

Broker

$606.4M

vol

24 deals

Broker
FinanceMiami
FinanceMiamiLender
Eduardo Pelaez

Eduardo Pelaez

Landlord

$300.5M

vol

12 deals

Landlord

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