Mr. Glitz Secures $6.3 Million Loan For Tropical Glitz Acquisition In Hialeah
1005 East 31st Street
$6,300,000
$208/SF
Building Size
30,224 SF
Asset Type
Other
Closing
Aug 3, 2026
About this deal
AI
The property asset involved in the transaction is located at 1005 East 31st Street in Hialeah. This asset, categorized under "Other," encompasses a total square footage of 30,224. The loan amount secured for the acquisition of this property is $6,300,000 under a loan type with terms of 25 years and a loan-to-value ratio of 90%.
Summary of transaction details:
- Property Type: Other
- Transaction Amount: $6,300,000
- Lender: Dianmary Reyes & Martin J. Morin - The Martin Group Financial
- Borrower: Mr. Glitz / Tropical Glitz
- Title Company: Ricardo Teran - Folio Title
- Date: 08/03/2026
The key individuals involved in this transaction include the lender team of Dianmary Reyes and Martin J. Morin, both representing The Martin Group Financial. The title company is represented by Ricardo Teran from Folio Title. Mr. Glitz is acting as the borrower for the Tropical Glitz entity in this acquisition deal.
On the Map
$6,300,000
$208/SF
Other
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Players
Hialeah Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93