Brenden D. Soucy Acquires Land In Miami Beach For $20M
125 Collins Avenue, Miami Beach, Florida 33139, United States
$20,000,000
$769/SF
Building Size
26,000 SF
Asset Type
—
Closing
Aug 17, 2022
AI
Brenden D. Soucy has purchased a land asset in Miami Beach located at 125, 137, 141 & 151 Collins Avenue. The transaction took place on August 18, 2022. The land spans 26,000 square feet and was sold for a price of $20,000,000, resulting in a price per square foot of $769.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $20,000,000
- Address: 125, 137, 141 & 151 Collins Avenue, Miami Beach
- Buyer: Brenden D. Soucy
- Seller: Lawrence, Patricia & Patrick Kaine
- Market: Miami Beach
- Square Footage: 26,000
- Price per Square Foot: $769
Brenden D. Soucy represented themselves in the transaction as the buyer, while Lawrence, Patricia & Patrick Kaine were the sellers. The sale of this land asset marks a significant investment opportunity in the thriving Miami Beach market.
Players
Miami Beach CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93