Updated Oct 28, 2024
Rock Soffer Acquires Development Site In Miami For $5.8M
123 Northeast 79th Street, Miami, Florida 33138, United States
$5,800,000
Building Size
—
Asset Type
Development Site
Closing
Oct 18, 2022
About this deal
AI
A development site located at 123 & 137 Northeast 79th Street in Miami has been sold for a total price of $5,800,000. The sale took place on October 19, 2022. The property is owned by Florida East Coast Realty and was acquired by Rock Soffer, Gaudi Castro, and Jose Vizcarrondo.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,800,000
- Buyer: Rock Soffer - Turnberry Associates, Gaudi Castro - Native Construction, Jose Vizcarrondo - Cade Capital Partners
- Seller: Florida East Coast Realty
- Date: October 19, 2022
- Address: 123 & 137 Northeast 79th Street, Miami
Rock Soffer, from Turnberry Associates, along with Gaudi Castro from Native Construction and Jose Vizcarrondo from Cade Capital Partners, were the buyers in this transaction. The seller was Florida East Coast Realty.
On the Map
$5,800,000
Development Site
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Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93