Trilogy Real Estate Group Acquires Development Site In Miami For $12.5M
169 Northeast 27th Street, Miami, FL, USA
$12,500,000
Building Size
—
Asset Type
Development Site
Closing
Dec 5, 2021
AI
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
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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93