1201 Brickell Bay LLC Acquires Development Site In Brickell, Miami For $363M
SOLD
Florida
See Similar DealsDevelopment Site108,900 SF
Sold 04/21/2022
SOLD
1201 Brickell Bay LLC Acquires Development Site In Brickell, Miami For $363M
1201 Brickell Bay Drive, Miami, Florida 33131, United States
See Similar DealsDevelopment Site108,900 SF
Sold 04/21/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$3,333
Total Square Footage:108,900 SF
Transaction Type:Sale
The development site located at 1201 Brickell Bay Drive in Brickell, Miami has been sold in a closed transaction. The property spans over 2.5 acres and is a valuable asset in the area.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $363,000,000
- Address: 1201 Brickell Bay Drive
- Market: Brickell, Miami
The buyer of the property is 1201 Brickell Bay LLC with Randall Davis representing them in the deal. On the other hand, the seller is Florida East Coast Realty, with the Hollo Family, specifically Jerome Hollo, involved in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$19,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,289,662.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,720,805.19
Annual Debt Service$20,649,662.33
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