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1445 Bay Road, Miami Beach,...

Todd Michael Glaser Sells Development Site On Bay Rd In Miami Beach For $2.55M With Broker Mina Taskiran
SOLDDevelopment Site

Todd Michael Glaser Sells Development Site On Bay Rd In Miami Beach For $2.55M With Broker Mina Taskiran

1445 Bay Road, Miami Beach, Florida 33139, United States

$2,550,000

$425/SF

Building Size

6,000 SF

Asset Type

Development Site

Closing

Apr 6, 2022

AI

A development site located at 1445 Bay Rd in Miami Beach has been sold in a recent transaction. The property, consisting of 6,000 square feet, was purchased by Todd Michael Glaser for a total sale price of $2,550,000. The site is situated in a prime location in the heart of South Beach, offering an amazing development opportunity.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,550,000
  • Address: 1445 Bay Rd, Miami Beach

The seller of the property, Todd Michael Glaser, handled the deal through their broker, Mina Taskiran from The Corcoran Group. The transaction was completed on 04/07/2022. The development site has approved plans for the construction of two new luxury residences, each spanning 3,900 square feet over four stories. The plans were developed by renowned builder Todd Michael Glaser, ensuring a high level of quality and design for the future properties. For more information on this opportunity, interested parties can contact Mina Taskiran with The Corcoran Group at 305-206-4551.

Players

Mina Taskiran

Sotheby's International Realty

Broker

$46.7M

vol

15 deals

Broker
The Corcoran Group
The Corcoran GroupBrokerage
Todd Michael Glaser

Todd Michael Glaser

Randall Realty Group

Seller

$974.3M

vol

41 deals

Seller

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

6.22%

Cash-on-Cash

-1.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93