Updated Oct 25, 2024
Carlos Proasi Acquires Development Site On Bay Road In Miami Beach For $2.7M
1425 Bay Road
$2,695,000
Building Size
—
Asset Type
Development Site
Closing
Sep 13, 2023
About this deal
AI
A development site located at 1425 Bay Road in Miami Beach has been sold in a recent transaction. The property was listed for an asking price of $2,700,000 and sold for $2,695,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,695,000
- Address: 1425 Bay Road, Miami Beach
- Market: Miami Beach
Carlos Proasi purchased the development site from Brandon Fuci. Mina Taskiran and Giovanni Mancini from ONE Sotheby's International Realty represented the seller, Brandon Fuci, in this transaction.
The development site sale at 1425 Bay Road in Miami Beach, Florida sold for $2.7M in 2023. 1425 Bay Road is classified as Development Site on Traded. Mina Taskiran, Giovanni Mancini, Sotheby's International Realty appear on the sale alongside Sotheby's International Realty. This page is the Miami Beach, Florida file for the 1425 Bay Road development site sold: pricing, party profiles, and other closed development site comps from the same Miami Beach sit in the Market section below. Filter that Miami Beach development site set by closing date to see what else sold near 1425 Bay Road around 2023. Published consideration for 1425 Bay Road is $2.7M, dated 2023. Cite this Carlos Proasi Acquires Development Site On Bay Road In Miami Beach For $2.7M sale when underwriting similar development site product around Miami Beach, Florida.
On the Map
$2,695,000
Development Site
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Players
Miami Beach 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
5.89%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93