Updated May 12, 2025
Related Group & Two Roads Development Acquires Development Site In Bal Harbour For $130M
10245 Collins Avenue
$130,000,000
$399/SF
Building Size
325,360 SF
Asset Type
Development Site
Closing
Aug 26, 2021
About this deal
AI
An development site located at 10245 Collins Avenue in Bal Harbour was recently sold for a total of $130,000,000. The property has a total of 88 units and a building square footage (BSF) of 325,360. The price per building square footage (PPBSF) was approximately $340. The transaction took place on August 26, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $130,000,000
- Address: 10245 Collins Avenue
- Market: Bal Harbour
- Units: 88
- BSF: 325,360
- PPBSF: $340
The buyers of the development site were Related Group and Two Roads Development. The sale was facilitated by brokers Jaret Turkell, Scott Wadler, Omar Morales, and Jon Sultan of Berkadia.
On the Map
$130,000,000
$399/SF
Development Site
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Players
Bal Harbour Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93