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
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.
Players
Market 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