Zach Vella Acquires Development Site On W. Dilido Drive In Miami Beach For $15.2M
SOLD
$15,200,000
+ 1
Florida
See Similar DealsDevelopment Site22,073 SF
Sold 12/30/2020
SOLD
Zach Vella Acquires Development Site On W. Dilido Drive In Miami Beach For $15.2M
228 West Dilido Drive, Miami Beach, FL, USA
See Similar DealsDevelopment Site22,073 SF
Sold 12/30/2020
+ 1
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$688
Total Square Footage:22,073 SF
Transaction Type:Sale
An development site located at 228 & 302 W. Dilido Drive in Miami Beach has been sold for a total price of $15,200,000. The property spans 22,000 square feet, resulting in a price per square foot of $688. The sale was finalized on December 30, 2020.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $15,200,000
- Square Footage: 22,000
- Price Per Square Foot: $688
- Location: 228 & 302 W. Dilido Drive, Miami Beach
- Buyer: Zach Vella
- Seller: Lionel Masson
- Buyer's Broker: Natalia Gryczynska - Brown Harris Stevens
- Seller's Broker: Vendôme Capital - @JimAgard
The buyer, Zach Vella, was represented by Natalia Gryczynska from Brown Harris Stevens, while the seller, Lionel Masson, was represented by Vendôme Capital with Jim Agard. This transaction marks a significant investment in a development site within the Miami Beach market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$810,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,002.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,055.75
Annual Debt Service$864,669.06
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