Two Roads Development Acquires Property From Unknown Condo Owners In Miami For $150 Million
2121 N Bayshore Dr, Miami, FL, 33137
$150,000,000
Building Size
—
Asset Type
Condo
Closing
May 24, 2022
About this deal
AI
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.
On the Map
$150,000,000
Condo
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Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93