Promanas Group And Rilea Group Acquire Development Site In Wynwood, Miami For $12.2M
100 Northeast 29th Street, Wynwood, Miami, FL, USA
$12,205,000
$389/SF
Building Size
31,358 SF
Asset Type
Development Site
Closing
Oct 13, 2021
AI
A development site located at 100 NE 29th Street, 94 NE 29th Street, and 101 NE 28th Street in Wynwood, Miami has been sold.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,205,000
- Date: 10/13/2021
- Market: Wynwood, Miami
- Buyer: Rilea Group - Diego Ojeda; Promanas Group - John Bogdasarian
- Seller: Jeffrey Miller
- Buyer's Representative: Alfredo Riascos & Yonatan Missika - Gridline Properties
- Seller's Representative: Liana Rivera - LLV Realty
- BSF: 345,000
- Price per BSF: $35
- Lot SF: 31,358
- Price per SF: $389
The buyers of the development site are Rilea Group, represented by Diego Ojeda, and Promanas Group, represented by John Bogdasarian. They acquired the property from Jeffrey Miller.
Alfredo Riascos and Yonatan Missika from Gridline Properties acted as the buyer's representatives in the transaction, while Liana Rivera from LLV Realty represented the seller.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93