Zach Vella Acquires Development Site On W. Dilido Drive In Miami Beach For $15.2M
228 West Dilido Drive, Miami Beach, FL, USA
$15,200,000
$688/SF
Building Size
22,073 SF
Asset Type
Development Site
Closing
Dec 29, 2020
AI
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.
Players
Miami Beach 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93