Michael Lichtenstein & Toby Moskovitz Acquire Edgewater Development Site For $6.3M
2140 NE 2 Ave, Miami, Florida 33137, United States
$6,300,000
$282/SF
Building Size
22,277 SF
Asset Type
Development Site
Closing
Feb 8, 2022
AI
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.
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93