JLL Brokers Maurice Habif And Simon Banke Sell Naples Development Site For $17.5M
1624 Gulf Shore Boulevard North
$17,500,000
$284/SF
Building Size
61,500 SF
Asset Type
Development Site
Closing
Jun 4, 2025
AI
The property involved in this transaction is a development site located at 1624 Gulf Shore Boulevard North in the Naples Harbour Club area. The asset covers an area of 61,500 square feet and has a sale price of $17,500,000, resulting in a price per square foot of $284. The market for this transaction is Naples.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $17,500,000
- Square Footage: 61,500
- Price per Square Foot: $284
- Address: 1624 Gulf Shore Boulevard North - Naples Harbour Club
- Market: Naples
- Brokers: Maurice Habif, Simon Banke, Danielle Fernandez & James Todd - JLL
The deal involved key brokers from JLL, specifically Maurice Habif, Simon Banke, Danielle Fernandez, and James Todd, representing the transaction. Their collective efforts facilitated the successful sale of the property in the Naples market.
Players
Naples 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93