Orchard Holding Invest Group Sells Development Site In Miami For $6.2M With Buyer's Rep Alex Cesar - CBRE
20 Northeast 41st Street
$6,200,000
$1,960/SF
Building Size
3,163 SF
Asset Type
Development Site
Closing
Jul 12, 2022
AI
The development site located at 20 NE 41st St in Miami has been sold for a price of $6,200,000. The property spans a total of 3,163 square feet, equating to a price per square foot of $1,960. The buyer's representative in the deal was Alex Cesar from CBRE, while Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors, LLC represented the seller, Orchard Holding Invest Group.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,200,000
- Square Footage: 3,163
- Price per Square Foot: $1,960
- Buyer's Representative: Alex Cesar - CBRE
- Seller's Representatives: Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors, LLC
The sale of this development site in Miami was facilitated by a team of experienced real estate professionals. Alex Cesar from CBRE acted as the representative for the buyer, ensuring their interests were protected throughout the transaction. On the other side, Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors, LLC served as the seller's representatives, working diligently to secure a successful deal for Orchard Holding Invest Group.
Players
Miami 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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93