Ari Pearl's PPG Development Arranges $24 Million Loan For Development Site In North Miami Beach
FINANCED
$24,000,000
Florida
See Similar DealsOther466,103 SF
Financed 04/18/2022
FINANCED
Ari Pearl's PPG Development Arranges $24 Million Loan For Development Site In North Miami Beach
1750 Northeast 167th Street, North Miami Beach, Florida 33162, United States
See Similar DealsOther466,103 SF
Financed 04/18/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$51
Total Square Footage:466,103 SF
Transaction Type:Loan
1750 Northeast 167th Street in North Miami Beach, a development site with a building size factor (BSF) of 245,800, has been involved in a recent loan transaction.
Summary of transaction details:
- Property Type: Development Site
- Transaction Date: 04/18/2022
- Market: North Miami Beach
- Loan Amount: $24,000,000
- Loan Type: Acquisition
- Lender: Sheridan Capital
- Broker: Ari Pearl - PPG Development
Ari Pearl from PPG Development represented the buyer in securing a $24,000,000 loan from Sheridan Capital for the acquisition of the development site located at 1750 Northeast 167th Street in North Miami Beach. This loan transaction took place on 04/18/2022.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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