Kushner Companies Acquires Development Site In Edgewater For $20.5M
2000 Biscayne Boulevard, Miami, FL 33137
$20,500,000
$625/SF
Building Size
32,775 SF
Asset Type
Development Site
Closing
Jun 16, 2020
AI
The development site located at 2000 Biscayne Boulevard in Edgewater has been sold in a transaction that closed on June 16, 2021. The property, with a sale price of $20,500,000, was purchased by Kushner Companies, represented by Charles Kushner, Nicole Kushner Meyer, and Laurent Morali. The seller in this deal was Enrique Manhard. The asset type of the property is a development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,500,000
- Address: 2000 Biscayne Boulevard, Edgewater
- Buyer: Kushner Companies - Charles Kushner, Nicole Kushner Meyer & Laurent Morali
- Seller: Enrique Manhard
- Brokers: Estrella Perez & Pascal Levy - EP Realty Group
The acquisition of the development site on 2000 Biscayne Boulevard was undertaken by Kushner Companies, with Charles Kushner, Nicole Kushner Meyer, and Laurent Morali taking the lead in the deal. Represented by Estrella Perez and Pascal Levy from EP Realty Group, Kushner Companies successfully completed the transaction for a purchase price of $20,500,000.
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
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93