Updated Dec 21, 2023
Ivan Chorney & Michael Martirena Sell Development Site In Miami For $3.58M
1132 Northeast 84th Street, Miami, FL 33138
$3,580,000
$94/SF
Building Size
38,000 SF
Asset Type
Development Site
Closing
May 28, 2020
About this deal
AI
A development site located at 1132 NE 84th St in Miami has been sold for a price of $3,580,000. The property was listed for $3,390,000, and the sale closed on 05/28/2021. The asset type is a development site, with a buildable square footage (BSF) of 38,000. The price per buildable square footage (PPBSF) is $94. Ivan Chorney and Michael Martirena represented both the seller and the buyer in this transaction.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $3,580,000
- Listing Price: $3,390,000
- BSF: 38,000
- PPBSF: $94
The Ivan and Mike Team, represented by Ivan Chorney and Michael Martirena, successfully facilitated the sale of this development site. It is worth noting that the property was sold for $190,000 over the asking price.
Players
Miami 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
4.43%
Cash-on-Cash
-1.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93