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
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