Regency Development Group Acquires Development Site In Miami Beach For $4.35M
1709 Jefferson Avenue
$4,350,000
$193/SF
Building Size
22,500 SF
Asset Type
Development Site
Closing
Nov 29, 2023
AI
A development site located at 1709 Jefferson Avenue in Miami Beach has been sold for $4,350,000. Spanning 22,500 square feet, the property was purchased by Regency Development Group. The sale price translates to approximately $193 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,350,000
- Address: 1709 Jefferson Avenue, Miami Beach
- Square Footage: 22,500
- Buyer: Regency Development Group
- Seller: Greenacres Management - Ophira Cukierman
- Seller's Representative: Melissa Rose, Maurice Habif, and Simon Banke - JLL
Melissa Rose, Maurice Habif, and Simon Banke from JLL represented the seller, Greenacres Management - Ophira Cukierman, in the transaction.
Players
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
3.65%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93