Michael Lichtenstein & Toby Moskovitz Acquire Edgewater Development Site For $6.3M
SOLD
$6,300,000
+ 3
Florida
See Similar DealsDevelopment Site22,277 SF
Sold 02/09/2022
SOLD
Michael Lichtenstein & Toby Moskovitz Acquire Edgewater Development Site For $6.3M
2140 NE 2 Ave, Miami, Florida 33137, United States
See Similar DealsDevelopment Site22,277 SF
Sold 02/09/2022
+ 3
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$282
Total Square Footage:22,277 SF
Transaction Type:Sale
A development site located at 2140 NE 2 Ave in Edgewater has been sold for a price of $6,300,000. The property spans approximately 22,277 square feet, resulting in a price per square foot of $283. The transaction took place on 02/09/2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,300,000
- Address: 2140 NE 2 Ave, Edgewater
- Market: Edgewater
Michael Lichtenstein and Toby Moskovitz of Heritage Equity Partners were the buyers in this transaction, while James R. Kaufman was the seller. The sale was facilitated by Miguel Pinto, Jamie Rose Maniscalco, and Alex K. Tsoulfas of APEX Capital Realty acting as brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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