City Of Miami Beach Housing Purchases Development Site From LeaseFlorida-Jerika Properties Inc For $5.9M
1101 71 St
$5,900,000
$317/SF
Building Size
18,614 SF
Asset Type
Development Site
Closing
Nov 2, 2025
AI
The property asset involved in this transaction is a development site located at 1101 71st Street in Miami Beach. The sale price was $5,900,000 for a total area of 18,614 square feet, resulting in a price per square foot of $317.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,900,000
- Address: 1101 71st Street
- Market: Miami Beach
- Square Footage: 18,614 SF
- Price per Square Foot: $317
- Buyer: City of Miami Beach Housing
- Seller: LeaseFlorida- Jerika Properties Inc
- Broker: Jake Waserstein - Realty Hub
The deal involved the City of Miami Beach Housing as the buyer, acquiring the asset from LeaseFlorida- Jerika Properties Inc, with representation by Jake Waserstein from Realty Hub, who facilitated the transaction.
Players
Miami Beach 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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93