Updated Oct 29, 2024
The Continuum Company Acquires Development Site In North Bay Village For $35M
1755 Kennedy Causeway
$35,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 2, 2023
About this deal
AI
A development site in North Bay Village has been sold for $35,000,000. The property, located at 1755 Kennedy Causeway, spans approximately 1.34 acres and is part of a prime real estate market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $35,000,000
- Address: 1755 Kennedy Causeway
- Market: North Bay Village
- Acres: 1.34
The buyer of the property is The Continuum Company, represented by Ian Bruce Eichner and Alexandra Eichner. The transaction was facilitated by Samuel Heskiel from Beachfront Realty, who acted as the broker for The Continuum Company.
On the Map
$35,000,000
Development Site
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Players
North Bay Village 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93