$28.6M Loan Secured For Retail Property In Fort Lauderdale By Mast Capital. Lender: CIT Bank
1515 Southeast 17th Street, Fort Lauderdale, FL, USA
$28,600,000
$401/SF
Building Size
71,199 SF
Asset Type
Retail
Closing
Apr 4, 2019
About this deal
AI
The retail property located at 1515 Southeast 17th Street in Fort Lauderdale, Miami, has been involved in a closed transaction. The loan for this property was provided by CIT Bank, with an amount of $28,600,000. The landlord of the property is Mast Capital, represented by Camilo Miguel.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $28,600,000
- Address: 1515 Southeast 17th Street
- Market: Fort Lauderdale
- City: Miami
- Lender: CIT Bank
- Landlord: Mast Capital - Camilo Miguel
Camilo Miguel, from Mast Capital, acted as the representative of the landlord in this deal.
On the Map
$28,600,000
$401/SF
Retail
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Players
Fort Lauderdale 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93