Updated Oct 28, 2024
Naftali Group Acquires Development Site In Downtown Miami For $40.5M
1016 NE 2nd Ave, Miami, Florida 33132, United States
$40,500,000
$910/SF
Building Size
44,500 SF
Asset Type
Development Site
Closing
Mar 24, 2022
About this deal
AI
Naftali Group has acquired a development site in Downtown Miami for $40,500,000. The property, located at 1016 NE 2nd Ave, boasts a total square footage of 44,500. The price per square foot comes to approximately $910.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,500,000
- Address: 1016 NE 2nd Ave, Downtown Miami
The buyer, Naftali Group, successfully completed the acquisition from the seller, Akara Partners. The deal was facilitated by Mika Mattingly, Cecilia Estevez, and Bradley Arendt from Colliers Urban Core Division, representing both the buyer and seller as brokers.
On the Map
$40,500,000
$910/SF
Development Site
View full map
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Bradley Arendt to view all their deals.
Browse Florida development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93