Related Group Acquires Development Site In North Miami From IMC Equity Group For $13.6M
1650 NE 124 St, North Miami, Florida 33181, United States
$13,600,000
Building Size
—
Asset Type
Development Site
Closing
Oct 24, 2022
AI
The development site located at 1650 NE 124 Street in North Miami has been sold for a total of $13,600,000. The property spans approximately 3 acres and is considered a valuable asset in the real estate market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,600,000
- Address: 1650 NE 124 Street, North Miami
- Market: North Miami
- Buyer: Related Group - Jon Paul & Jorge Pérez
- Seller: IMC Equity Group - Yoram Izhak
The acquisition was made by the Related Group, represented by Jon Paul and Jorge Pérez. They purchased the property from the IMC Equity Group, with Yoram Izhak as their representative. This transaction marks an important deal in the North Miami market, adding to the Related Group's portfolio.
Players
North Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93