BHK Capital Acquires Development Site In North Miami For $20 Million
2305 Northeast 123rd Street
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 5, 2024
AI
A development site located at 2305 Northeast 123 in North Miami has been sold in a recent transaction. The property, which was sold by the Related Group, was purchased by BHK Capital. The sale price for the development site was $20,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Market: North Miami
- Buyer: BHK Capital
- Seller: Related Group
The brokers involved in this deal were Jaret Turkell and Omar Morales from Berkadia. They represented BHK Capital in the transaction.
Players
North Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93