Two Roads Development Acquires Property From Unknown Condo Owners In Miami For $150 Million
SOLD
$150,000,000
+ 1
Florida
See Similar DealsCondo
Sold 05/24/2022
SOLD
Two Roads Development Acquires Property From Unknown Condo Owners In Miami For $150 Million
2121 N Bayshore Dr, Miami, FL, 33137
See Similar DealsCondo
Sold 05/24/2022
+ 1
Summary
FLORIDA
Asset Type:Condo
Transaction Type:Sale
The property involved in this transaction is located at 2121 N Bayshore Dr, Miami, FL, 33137. It is situated in the Miami market and has a transaction value of $150,000,000.00. The property has a square footage of 0. The seller is identified as unknown condo owners.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $150,000,000.00
- Address: 2121 N Bayshore Dr, Miami, FL, 33137
- Market: Miami
- Seller's Representative: Brian De La Fé, David Duckworth, Joe Hernandez, John Crotty - Avison Young
- Buyer: Two Roads Development
- Seller: Unknown Condo Owners
This transaction saw Brian De La Fé, David Duckworth, Joe Hernandez, and John Crotty representing the sellers through Avison Young. The buyer of the property is Two Roads Development, marking a significant move in the Miami real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$532,918.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$711,076.53
Annual Debt Service$8,532,918.32
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