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Shneur Shapira Acquires Development Site In Bay Harbor Islands For $4.5M

Property Image
SOLD
$4,500,000
Joel Lusky
SS

Florida

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Development Site40,950 SF
Sold 08/17/2020
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Property Image
SOLD

Shneur Shapira Acquires Development Site In Bay Harbor Islands For $4.5M

10331 E Broadview Drive

See Similar Deals
Development Site40,950 SF
Sold 08/17/2020
Joel Lusky
SS
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$109
Total Square Footage:40,950 SF
Transaction Type:Sale

A development site located at 10331 E Broadview Drive in Bay Harbor Islands has been sold for $4,500,000. The property spans 4,095 square feet and was transacted on 08/17/2020. The seller's representative in this deal was @JoelLusky, while the buyer's representative was Shneur Shapira.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,500,000
  • BSF: 4,095
  • Seller's Representative: @JoelLusky
  • Buyer's Representative: Shneur Shapira

The successful sale of this development site in Bay Harbor Islands was facilitated by @JoelLusky, representing the seller, and Shneur Shapira, who acted as the buyer's representative. This transaction marks a significant milestone in the local real estate market, demonstrating strong demand for development opportunities in the area.

Players

Joel Lusky
The Brokerage South Florida Real Estate
Joel Lusky
44 deals$422.7M volume
BROKER
SS
Shneur Shapira
2 deals$4.5M volume
BROKER
Douglas Elliman
Douglas Elliman
BROKERAGE

Details

SOLD
IMAGE: Shneur Shapira & @JoelLusky DATE: 08/17/2020 ADDRESS: 10331 E Broadview Drive MARKET: Bay Harbor Islands ASSET TYPE: Development Site PRICE: $4,500,000 BSF: 4,095 SELLER’S REP: @JoelLusky BUYER’S REP: Shneur Shapira

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55