Updated Jun 16, 2025
Santiago Vanegas Of Habitat Group Purchases Development Site In Miami For $7.5M
150 Southwest 7th Street & 158 Southwest 7th Street
$7,500,000
Building Size
—
Asset Type
Development Site
Closing
Jun 12, 2025
About this deal
AI
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.
On the Map
$7,500,000
Development Site
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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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93