Updated Dec 4, 2024
Mast Capital And Rockpoint Group Acquire Development Site In Brickell For $103M
1420 South Miami Avenue, Miami, Florida 33130, United States
$103,000,000
$44,301/SF
Building Size
2,325 SF
Asset Type
Development Site
Closing
Dec 27, 2021
About this deal
AI
A development site located at 1420 South Miami Avenue in Brickell has been sold for a total of $103,000,000. The property, spanning 2.8 acres, was purchased by Mast Capital, represented by Camilo Miguel Jr., along with Rockpoint Group. The seller of the site was Rega Center Miami Holdings.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $103,000,000
- Address: 1420 South Miami Avenue
- Market: Brickell
- Buyer: Mast Capital - Camilo Miguel Jr.; Rockpoint Group
- Seller: Rega Center Miami Holdings
- Size: 2.8 acres
The buyer of the development site, Mast Capital, was represented by Camilo Miguel Jr. and was joined by Rockpoint Group in the transaction. On the other side, Rega Center Miami Holdings acted as the seller. This deal highlights the significant investment made by Mast Capital and Rockpoint Group in the Brickell market, demonstrating their confidence in the potential of the development site.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93