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21220 Southwest 115th Road

Esteban Koffsman Acquires Development Site In Goulds For $4M
SOLDDevelopment Site

Esteban Koffsman Acquires Development Site In Goulds For $4M

21220 Southwest 115th Road

$4,000,000

$40/SF

Building Size

98,899 SF

Asset Type

Development Site

Closing

May 1, 2024

AI

The sale involved a development site located at 21220 Southwest 115th Road in Goulds, Miami. The property was sold for $4,000,000 with a size of 98,899 square feet, resulting in a price per square foot of $40.

Summary of transaction details:

The key individuals involved in the transaction were Janet Crucet, Kristine Flook, Anthony DeLaHoz, Stephen Rigl, and Danny Zelonker. The buyer's representatives from Urbanize Properties, along with Anthony DeLaHoz, facilitated the off-market acquisition of the development site, emphasizing the strategic value of the investment. The seller's representatives, Stephen Rigl and Danny Zelonker, brought their expertise to ensure a successful completion of the deal, showcasing a commitment to delivering real estate opportunities in the Miami area.

Players

Janet Crucet

Urbanize Properties

Broker

$97.2M

vol

15 deals

Broker

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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93