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Bank OZK Provides $80.9M Construction Loan For Downtown Miami Multifamily By Aria Development

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This MultiFamily property located in FL received a loan of $80,924,000 over 1 year ago. The brokers of the deal were Scott Wadler, Matthew (Matt) Nihan, and Michael (Thomas) Basinski

The property involved in this transaction is a multifamily asset located at 501 NE 1st Avenue in Downtown Miami. The property comprises 448 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $80,924,000
  • Address: 501 NE 1st Avenue, Downtown Miami
  • Market: Downtown Miami
  • Lender: Bank OZK
  • Landlord: David Arditi & Marco Ziff - Aria Development

The loan for this transaction was provided by Bank OZK. The landlords involved in the deal are David Arditi and Marco Ziff, representing Aria Development. The brokers involved in the transaction are Scott Wadler, Matthew Nihan, and Michael Basinski, who represent Berkadia.

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Deals
  • Location
    501 Northeast 1st Avenue501 Northeast 1st Avenue
  • Loan Value
    $80,924,000$80,924,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency, 1 Lender3 Brokers, 1 Agency, 1 Lender

Agents

Michael (Thomas) Basinski

Michael (Thomas) Basinski

Deals13
Financed$641.1M

Matthew (Matt) Nihan

Matthew (Matt) Nihan

Deals13
Financed$375.2M

Scott Wadler

Scott Wadler

Deals66
Financed$2.6B

Agency

Berkadia

Berkadia

Agency
Deals1097
Volume$45.7B

Bank OZK

Bank OZK

Lender
Deals77
Volume$ 338.9B

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Deal Summary

LOAN IMAGE: Michael Basinski, David Arditi, Scott Wadler, Marco Ziff & Matthew Nihan DATE: 11/15/2022 ADDRESS: 501 NE 1st Avenue MARKET: Downtown Miami ASSET TYPE: Multifamily ~ UNITS: 448 LENDER: Bank OZK LANDLORD: David Arditi & Marco Ziff - Aria Development BROKERS: Scott Wadler, Matthew Nihan & Michael Basinski - Berkadia LOAN AMOUNT: $80,924,000 LOAN TYPE: Construction

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