Mortgage lead for Commercial loan in North Miami Beach, FL, 33162

Loan Request for Commercial loan in North Miami Beach, FL, 33162

Request #3757148 by Lender

Date Posted

9/8/2025 12:35:17 AM

Property at

North Miami Beach, FL, 33162, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$38,000,000

Amount of Existing Loans

$13,500,000

Loan Request

$19,500,000

LTV

51.32 %

Credit Rating

780 or more

Net Worth

Over $10,000,000

Loan Purpose

Refinance and Construction

Purpose

Fully entitled and approved for 700 units, breaking ground in 10-12 months. The owner has invested $9MM in personal capital into this property thus far. The $6MM is for predevelopment costs, and the remainder is going into reserves. The repayments can be made from the appropriate sum to be held back in a reserve account for the interest-only payments.

The 81,163-square-foot development site calls for redevelopment into "North Miami Beach Place," featuring two independently operated 28-story towers with a total of 700 apartments, ground-floor retail, office space, and 872 parking spaces, all divided by a central landscaped motor court. Apartments will range from 581 to 1,405 square feet in size, with various configurations including studios, one- to three-bedrooms, and units with dens. Amenities will include a landscaped deck with pool, cabanas, fitness center, lounge, and coworking areas.

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Loan Request for Commercial loan in North Miami Beach, FL, 33162