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Santiago Vanegas Of Habitat Group Purchases Development Site In Miami For $7.5M

Property Image
SOLD
$7,500,000

Florida

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Development Site
Sold 06/12/2025
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Property Image
SOLD

Santiago Vanegas Of Habitat Group Purchases Development Site In Miami For $7.5M

150 Southwest 7th Street & 158 Southwest 7th Street

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Development Site
Sold 06/12/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A development site located at 150 & 158 Southwest 7th Street in Miami has been sold. The asset spans 0.34 acres and was purchased for $7,500,000. The transaction occurred in the Miami market, indicating the area's ongoing real estate activities and interest.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $7,500,000
  • Buyer: Santiago Vanegas - Habitat Group
  • Seller: Henry Bott - Swire Properties
  • Lender: Ronaldo Hernandez

The buyer, Santiago Vanegas representing Habitat Group, intends to develop a condo and condo-hotel tower on the site. The project has the potential to rise between 24 to 40 stories, contingent upon zoning regulations. The development aims to feature shared ownership units reminiscent of Smart Brickell.

Players

Santiago Vanegas
Santiago Vanegas
9 deals$149.6M volume
BUYER
Swire Properties
Swire Properties
SELLER

Details

SOLD
IMAGE: Henry Bott & Santiago Vanegas DATE: 06/12/2025 ADDRESS: 150 & 158 Southwest 7th Street MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 0.34 BUYER: Santiago Vanegas - Habitat Group (@HabitatGroupMiami) SELLER: Henry Bott - Swire Properties (@SwirePropertiesUSA) LENDER: Ronaldo Hernandez SALE PRICE: $7,500,000 NOTE: Swire Properties sold a 0.34-acre site in Miami’s Brickell for $7.5M to Habitat Group’s Abitaro Living, which plans a condo and condo-hotel tower. The project may rise 24 or 40 stories depending on zoning, with shared ownership units similar to Smart Brickell.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
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