Updated Oct 28, 2024
Terra Group Acquires 1.82 Acre Development Site In Bay Harbor Islands For $31.5M
1177 Kane Concourse, Bay Harbor Islands, FL, USA
$31,500,000
$792/SF
Building Size
39,750 SF
Asset Type
Development Site
Closing
May 18, 2020
About this deal
AI
A development site located at 1177 Kane Concourse in Bay Harbor Islands has been sold for a price of $31,500,000. The property spans across 1.82 acres.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $31,500,000
- Address: 1177 Kane Concourse, Bay Harbor Islands
- Market: Bay Harbor Islands
- Buyer: Terra Group - David Martin
- Seller: Northwood Ravin - David Ravin & Wharton Equity Partners - Peter C. Lewis & David Martin
- Brokers: Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales, & Jose Mota @Berkadia
The sale of this development site was facilitated by brokers Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales, and Jose Mota from Berkadia. The buyer, Terra Group, was represented by David Martin. The seller was a joint venture between Northwood Ravin, headed by David Ravin, and Wharton Equity Partners, led by Peter C. Lewis and David Martin.
Players
Bay Harbor Islands Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Jose Mota to view all their deals.
Browse Florida development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93