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
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