Jared Brunnabend Acquires Wynwood Development Site For $2.5M
153 Northwest 25th Street
$2,500,000
$471/SF
Building Size
5,300 SF
Asset Type
Development Site
Closing
Oct 12, 2022
AI
A development site in Wynwood has been sold for $2,500,000. The property, located at 153 NW 25 Street, has a buildable square footage (BSF) of 5,300. The sale price equates to approximately $472 per square foot.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,500,000
- Address: 153 NW 25 Street
- Market: Wynwood
- BSF: 5,300
- Price per BSF: $472
The buyer of the property is Jared Brunnabend. Representing the buyer in this deal is Alfredo Riascos from Gridline Properties. The seller of the property is the Doris Friedopher Family Trust, with John Crotty from Avison Young serving as their representative.
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93