Miami Sunrise Properties Sells Development Site In Wynwood, Miami For $23M
1950 NW 1st Ave, Wynwood, Miami, FL, USA
$23,000,000
$212/SF
Building Size
108,334 SF
Asset Type
Development Site
Closing
Jul 15, 2020
AI
The development site located at 1950 NW 1st Ave in Wynwood, Miami has been sold for $23,000,000. The property, spanning an area of 2.54 acres, was listed for sale with an asking price of $26,000,000. The transaction took place on July 15, 2021.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $23,000,000
- Address: 1950 NW 1st Ave, Wynwood, Miami
- Market: Wynwood, Miami
- Seller: Miami Sunrise Properties - Jese Afonso Assumpcao
- Broker: Keiti Silva
Keiti Silva, from the seller's side represented Miami Sunrise Properties in this transaction. The deal brings together a buyer and seller, with Jese Afonso Assumpcao involved as the representative of Miami Sunrise Properties. The transaction highlights the strong presence of development opportunities in the thriving Wynwood market.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93