Trilogy Real Estate Group Acquires Development Site In Miami For $12.5M
SOLD
$12,500,000
Florida
See Similar DealsDevelopment Site
Sold 12/06/2021
SOLD
Trilogy Real Estate Group Acquires Development Site In Miami For $12.5M
169 Northeast 27th Street, Miami, FL, USA
See Similar DealsDevelopment Site
Sold 12/06/2021
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site in Miami has been sold for $12,500,000. The property, located at 169 Northeast 27th Street, 2728 Northeast Second Avenue, and 166 Northeast 28th Street, spans approximately 0.7 acres. The transaction took place on 12/06/2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Address: 169 Northeast 27th Street, 2728 Northeast Second Avenue, and 166 Northeast 28th Street, Miami
- Market: Miami
- Buyer: Trilogy Real Estate Group - Neil Gehani
- Seller: Stripey Development
- Buyer's Representative: Alex Tsoulfas & Vincent Pastore - Apex Capital Realty
- Seller's Representative: Juan Martinez - Metro Consulting & Management
The buyer's representatives in this deal were Alex Tsoulfas & Vincent Pastore from Apex Capital Realty. On the other side, Juan Martinez represented the seller, Stripey Development.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$666,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,409.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,256.38
Annual Debt Service$711,076.53
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