Robert Finvarb And Abie Hidary Acquire Miami Development Site For $6.7M
SOLD
$6,700,000
Florida
See Similar DealsDevelopment Site11,300 SF
Sold 04/24/2023
SOLD
Robert Finvarb And Abie Hidary Acquire Miami Development Site For $6.7M
160 Nw 28 St
See Similar DealsDevelopment Site11,300 SF
Sold 04/24/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$592
Total Square Footage:11,300 SF
Transaction Type:Sale
Robert Finvarb and Abie Hidary have purchased a development site located at 160 Northwest 28 Street in Miami. The property has a total area of 11,300 square feet and was sold for a price of $6,700,000, which equates to a price per square foot of $593. The transaction took place on April 24, 2023 and the seller was Max Beltrame.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Buyer: Robert Finvarb and Abie Hidary
- Seller: Max Beltrame
- Brokers: Andy Charry & Juan Andres Nava - Metro 1 Commercial
- Address: 160 Northwest 28 Street, Miami
The deal was facilitated by the brokers Andy Charry and Juan Andres Nava from Metro 1 Commercial. They represented the buyer and seller respectively, ensuring a smooth transaction process. This acquisition marks a significant addition to Robert Finvarb and Abie Hidary's property portfolio in Miami.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$357,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,803.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,761.42
Annual Debt Service$381,137.02
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