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
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