FINANCEDRetail
Lee Schwartz & Michael Yassky Of Sheridan Capital Arrange $17.25M Bridge Loan In North Miami Beach
1421 Northeast 163rd Street
$17,250,000
$44/SF
Building Size
388,000 SF
Asset Type
Retail
Closing
Mar 7, 2024
AI
The retail property located at 1421 Northeast 163rd Street in North Miami Beach spans 350,000 square feet. The asset type is retail, and the transaction took place involving a bridge loan amounting to $17,250,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,250,000
- Address: 1421 Northeast 163rd Street
- Market: North Miami Beach
Lee Schwartz and Michael Yassky from Sheridan Capital served as the lender's representatives in this deal.
Players
North Miami Beach Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93