Masoud Shojaee's Shoma Group Acquires Development Site & Retail In North Bay Village For $15.8M
1850 79th Street Causeway, North Bay Village, FL 33141, USA
$15,800,000
Building Size
—
Asset Type
Development Site
Closing
May 13, 2020
AI
The property involved in this closed transaction is a development site and retail space located at 1850 79th Street Causeway & 1872 79th Causeway in North Bay Village. The sale took place on May 13, 2021, with a sale price of $15,800,000.
Summary of transaction details
- Property Type: Development Site & Retail
- Sale Price: $15,800,000
- Address: 1850 79th Street Causeway & 1872 79th Causeway
- Market: North Bay Village
The buyer in this transaction is Masoud Shojaee, represented by the Shoma Group. The seller consists of The Atkinson Trust, represented by Charles & James Edwards, as well as NBV Corp., represented by Norman Ciment, Avi Ciment, and Shaun Grenald.
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
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93