Shovel-ready hotel development with rare cost saving advantages in Downtown Miami, steps from Miami Worldcenter,Brightline and major corporate hubs. This fully entitled 163 room, 17 story project includes plans, and demolition permits. The site qualifies for a 10 year AD VALOREM tax Exemption and an estimated $8.74M in HTC benefits, creating major Financial incentives. Located in one of Miami's Strongest hospitality markets, this prime investment opportunity offers luxury hotel plans with a rooftop pool and the option of a pre-negotiated Flag operator lease once developed, providing a turnkey, corporate-backed asset with substantial upside.
139 NE 1st St, Miami, FL, 33132
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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