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221 Southwest 11th Street

Ricardo Dunin Acquires Development Site In Miami For $15M
SOLDDevelopment Site

Ricardo Dunin Acquires Development Site In Miami For $15M

221 Southwest 11th Street & 229 Southwest 11th Street

$15,000,000

$510/SF

Building Size

29,400 SF

Asset Type

Development Site

Closing

Dec 6, 2023

AI

A development site located at 221 & 229 Southwest 11th Street in Miami has been sold in a recent transaction. The property spans 14,700 square feet and was sold for a total price of $15,000,000, resulting in a price per square foot of $1,020. The transaction took place on 12/06/2023.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $15,000,000
  • Square Footage: 14,700
  • Address: 221 & 229 Southwest 11th Street, Miami

The buyer of the property was Ricardo Dunin, while Angela Sharkey served as the seller. The deal was facilitated by brokers Ashley Alvarez and Willy Alvarez, representing Sterling One Realty.

Players

Ashley Alvarez

Sterling One Realty

Broker

$34.6M

vol

6 deals

Broker
Ricardo Dunin

Ricardo Dunin

Buyer

$279.3M

vol

6 deals

Buyer

Angela Sharkey

Seller

$30M

vol

2 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

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93