Raquel Grosfeld Sells Development Site In North Miami For $8.875M With Brokers Joel Lusky & Zalmy Shapiro
1990 Northeast 119th Road
$8,875,000
$729/SF
Building Size
12,170 SF
Asset Type
Development Site
Closing
Jun 21, 2026
AI
The asset involved in the transaction is a development site located at 1990 Northeast 119th Road in North Miami. The sale concluded at a price of $8,875,000, encompassing a total square footage of 12,170, which translates to a price per square foot of $729.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,875,000
- Address: 1990 Northeast 119th Road
- Market: North Miami
- Square Footage: 12,170
- Price Per Square Foot: $729
- Seller: Raquel Grosfeld
- Brokers: Joel Lusky & Zalmy Shapiro - The Brokerage South Florida Real Estate
Key individuals involved in this transaction include the seller, Raquel Grosfeld, and the brokers who represented the deal, Joel Lusky and Zalmy Shapiro from The Brokerage South Florida Real Estate.
Players
Market 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
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93