Updated Sep 9, 2024
Lionel Masson Acquires Development Site In Miami Beach For $5.55M
1375 North Biscayne Point Road
$5,550,000
Building Size
—
Asset Type
Development Site
Closing
Jan 3, 2023
About this deal
AI
A development site located at 1375 North Biscayne Point Road in Miami Beach has been sold for a price of $5,550,000. The property is situated in a prime location and offers great potential for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,550,000
- Address: 1375 North Biscayne Point Road, Miami Beach
- Market: Miami Beach
The buyer, Lionel Masson, acquired the property through the representation of Jim Agard from Vendome Capital. Melisa Attal from Beachfront Realty acted as the seller's representative in the deal. Both parties played a crucial role in facilitating the successful transaction.
On the Map
$5,550,000
Development Site
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Players
Miami Beach Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.86%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93