DWNTWN Realty Advisors Sells Development Site In Miami's Wynwood Neighborhood For $24M
2215 Northwest 1st Place
$24,000,000
$875/SF
Building Size
27,406 SF
Asset Type
Development Site
Closing
Sep 22, 2023
AI
A development site located at 2215 Northwest 1st Place in Miami has recently been sold for a price of $24,000,000. The property spans a total area of 27,406 square feet, with a price per square foot of $876. The transaction took place on September 22, 2023, involving the seller Baron Wynwood.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,000,000
- Address: 2215 Northwest 1st Place, Miami
- Square Footage: 27,406
- Price per Square Foot: $876
- Seller: Baron Wynwood
The deal was facilitated by brokers Devlin Marinoff and Tony Arellano from DWNTWN Realty Advisors. Legal representation for the transaction was provided by Charlie Ratner from Charlie Ratner Law.
Players
Market 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93