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2000 Biscayne Boulevard, Mi...

Kushner Companies Acquires Development Site In Edgewater For $20.5M
SOLDDevelopment Site

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

Estrella Perez

EP Realty Group

Broker

$201.7M

vol

8 deals

Broker
Laurent Morali

Laurent Morali

Kushner Companies

Buyer

$2.5B

vol

18 deals

Buyer
Enrique Manhard

Enrique Manhard

Partners

Seller

$122M

vol

6 deals

Seller

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