Miami, FL

$4,620,000

Residential Land

Refinance

02/24/2020
Transaction by
LV Lending
LV Lending announced the closing of $4.62 million in refinancing for a 1.75-acre residential site at 1515-1543 NW South River Dr. in Miami. The refinancing was facilitated by Camilo Niño, Ricardo Uribe, and Alen Hernandez of LV Lending, on behalf of the borrower, 1515 Miami River Development, L.P., led by Marlon Gomez, of Gomez Development Group. The property had been previously purchased in January 2014 for a combined total of approximately $3.87 million. The acquisition consisted of an assemblage of three sites on the Miami River, which currently houses four single-family homes with 14 boat slips. The site had received approvals for rezoning which allows for greater density. The developer now plans to turn this site into a modern 40-unit townhome project with new boat slips.