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
$24,000,000
$51/SF
Building Size
466,103 SF
Asset Type
Other
Closing
Apr 17, 2022
AI
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.
Players
North Miami Beach 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93