Updated Oct 29, 2024
Regal Travel Group Acquires Development Site In Miami For $12.5M
2215 NW 14th St, Miami, FL 33125, USA
$12,500,000
$65/SF
Building Size
191,664 SF
Asset Type
Development Site
Closing
Nov 22, 2022
About this deal
AI
Regal Travel Group has acquired a development site in Miami for a sale price of $12,500,000. The property, located at 2215 NW 14th St, has a building square footage (BSF) of 191,664. The price per building square footage (PPBSF) is $65. The deal was facilitated by Sasha Berg of GFI Realty, representing Regal Travel Group, and Kaan Kaleli of Brickell Realty & Management Corp, representing the seller.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Address: 2215 NW 14th St, Miami
- Market: Miami
- BSF: 191,664
- PPBSF: $65
The buyer, Regal Travel Group, is a company specializing in travel and yachts. Their representatives in the deal were Sam Gross and Izzy Bard. Sasha Berg from GFI Realty served as the buyer's representative, while Kaan Kaleli from Brickell Realty & Management Corp represented the seller.
Players
Miami Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93