Brad Meltzer Of Two Roads Development Acquires Eight Condos At Biscayne 21 For $46.19M
2121 North Bayshore Drive
$46,190,000
Units
8
Asset Type
Condo
Closing
Sep 8, 2026
About this deal
AI
2121 North Bayshore Drive is a condo asset located in the Miami market. The property was sold for $46,190,000, which equates to $5,773,750 per unit, consisting of a total of 8 units. This sale involved a complete buyout following a lawsuit settlement with holdout owners.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $46,190,000
- Units: 8
- Price Per Unit: $5,773,750
- Buyer: Brad Meltzer - Two Roads Development - TRD Biscayne LLC
- Lender: Bank OZK
The deal was facilitated by the developer Two Roads Development, through its affiliate TRD Biscayne LLC. They have increased their mortgage with Bank OZK to $151.86 million in conjunction with the plans to demolish the existing 191-unit condo to make way for the new 182-unit, 55-story Edition Residences in Miami Edgewater.
Players
Bay Shore Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $5.8M per unit across 8 units on a published $46.2M (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93