David Lerner Secures $9 Million Refinance Loan From Grove Bank & Trust For Retail Assets In Miami
315 Northwest 25th Street, 415 Northwest 26th Street, 2801 Northwest 2nd Avenue & 347 Northwest 24th Street
$9,000,000
Building Size
—
Asset Type
Retail
Closing
Aug 7, 2026
AI
The retail properties involved in this transaction are located at 315 Northwest 25th Street, 415 Northwest 26th Street, 2801 Northwest 2nd Avenue, and 347 Northwest 24th Street in Miami. The total loan amount for the refinance is $9,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Lender: Grove Bank & Trust
- Borrower: David Lerner
- Landlord's Representative: David Lerner - DWNTWN Realty Advisors
- Loan Type: Refinance
The key individuals in this transaction include David Lerner, who acts as both the borrower and the landlord's representative, facilitating the refinance process for the listed retail properties.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93