Gonzalo Espinosa Acquires Development Site In Miami For $8M
114 Northeast 22nd Street & 138 Northeast 22nd Street
$8,000,000
$129/SF
Building Size
61,800 SF
Asset Type
Development Site
Closing
Dec 15, 2023
AI
A development site located at 114-138 Northeast 22nd Street in Miami has been sold for a total price of $8,000,000. The site spans 30,900 square feet, resulting in a price per square foot of $259. The transaction took place on 12/15/2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Address: 114-138 Northeast 22nd Street, Miami
- Market: Miami
Gonzalo Espinosa was the buyer of the development site, while the sellers were William Kelly and Jorge Vidal. Colliers International, represented by Mika Mattingly and Cecilia Estevez, along with Compass, represented by Andres Garcia, facilitated the sale.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93