David Burstyn Acquires Development Site In Bay Harbor Islands For $18 Million With Brokers Joel Lusky And Zalmy Shapiro
10312 West Broadview Drive
$18,000,000
$914/SF
Building Size
19,688 SF
Asset Type
Development Site
Closing
Jul 27, 2026
AI
The property asset involved in the transaction is a development site located at 10312 West Broadview Drive in Bay Harbor Islands. The sale occurred for a price of $18,000,000, encompassing a total area of 19,688 square feet. The price per square foot was calculated at $914.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Address: 10312 West Broadview Drive
- Market: Bay Harbor Islands
- Square Footage: 19,688
- Price per Square Foot: $914
- Buyer: David Burstyn
- Brokers: Joel Lusky, Zalmy Shapiro - The Brokerage South Florida Real Estate; Jordan Karp - Jordan Karp LLC
The key individuals involved in the transaction include the buyer, David Burstyn, and the brokers representing the parties in the deal. Joel Lusky and Zalmy Shapiro represented The Brokerage South Florida Real Estate, while Jordan Karp represented Jordan Karp LLC in this transaction.
Players
Bay Harbor Islands 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93