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1700 Northeast 164th Street

Eddie J. Hidary And Steven Hidary Acquire Development Site In North Miami Beach For $10.15M
SOLDDevelopment Site

Eddie J. Hidary And Steven Hidary Acquire Development Site In North Miami Beach For $10.15M

1700 Northeast 164th Street

$10,150,000

$203,000/SF

Building Size

50 SF

Asset Type

Development Site

Closing

May 12, 2022

AI

A development site located at 1700 NE 164th St in North Miami Beach has been sold for a price of $10,150,000. The property spans a total of 50,475 square feet, resulting in a price per square foot of $201.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $10,150,000
  • Address: 1700 NE 164th St
  • Market: North Miami Beach

The buyers of the development site are Eddie J. Hidary, Steven Hidary from Hidrock, and Grupo Portland. On the other hand, the sellers are Menayed, Martin Muniz, and Christophe L. DiFalco from Grupo Portland. The deal was facilitated by brokers Miguel Pinto, Jamie Rose Maniscalco, and Thano Mazas from APEX Capital Realty.

Players

Jamie Rose Maniscalco

The Alpha Commercial

Broker

$197.5M

vol

57 deals

Broker

Christophe L. DiFalco

Seller

$17.8M

vol

2 deals

Seller

North Miami Beach 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

1.56%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93