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1755 79 Street Csw

Bruce Eichner Acquires Development Site In North Bay Village For $35M From Seller Sebastian Barbagallo At 1755 79 Street Cswy
SOLDDevelopment Site

Bruce Eichner Acquires Development Site In North Bay Village For $35M From Seller Sebastian Barbagallo At 1755 79 Street Cswy

1755 79 Street Csw

$35,000,000

$574/SF

Building Size

60,900 SF

Asset Type

Development Site

Closing

Feb 15, 2023

AI

A development site located at 1755 79th Street Cswy in North Bay Village has been sold in a closed transaction. The buyer of the property is Bruce Eichner, while the seller is Sebastian Barbagallo. The sale price for the site is $35,000,000. The property has a buildable square footage (BSF) of 60,900, resulting in a price per buildable square footage (PPBSF) of $575.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $35,000,000
  • Address: 1755 79 Street Cswy, North Bay Village
  • Buyer: Bruce Eichner
  • Seller: Sebastian Barbagallo

The deal was facilitated by Marilina Apfelbaum and Samuel Heskiel from Beachfront Realty, who represented both the buyer and the seller in the transaction.

NOTE: For more Off Market opportunities, please contact Samuel Heskiel at 786-451-4484 or via email at [email protected].

Players

Marilina Apfelbaum

Beachfront Realty

Broker

$226.6M

vol

19 deals

Broker
Sebastian Barbagallo

Sebastian Barbagallo

Seller

$131.2M

vol

5 deals

Seller

Market 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

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93