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2140 NE 2 Ave, Miami, Flori...

Michael Lichtenstein & Toby Moskovitz Acquire Edgewater Development Site For $6.3M
SOLDDevelopment Site

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

Jamie Rose Maniscalco

The Alpha Commercial

Broker

$197.5M

vol

57 deals

Broker
Michael Lichtenstein

Michael Lichtenstein

Heritage Equity Partners

Buyer

$165.3M

vol

4 deals

Buyer

James R. Kaufman

Seller

$14.1M

vol

3 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

2.52%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93