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New York Developer Secures $18M Construction Loan For Allapattah Project

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An $18.3 million construction loan was obtained by New York-based Knickpoint Ventures for a self-storage facility located in Miami’s Allapattah district.

KV 36th Street Storage LLC received the mortgage from Bank Hapoalim B.M., an Israeli bank with a branch in New York, through Knickpoint Ventures. It encompasses the 1.08-acre property located a few streets south of State Road 112/Airport Expressway, at 2915 and 2925 N.W. 36th St.

The land for a 140,623-square-foot self-storage facility was approved by the city.

In 2022, the developer paid $4.6 million for the site. There used to be a car dealership there.

On its website, Knickpoint Ventures claims to have 15 self-storage locations in Miami and New York. It also makes investments in offices, shops, and housing.


Source:  SFBJ

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