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Teddy Sagi, Jorge Pérez, And Jon Paul Pérez Acquire North Miami Development Site For $11.03M

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SOLD
$11,030,000
John Crotty
David Duckworth
+ 6

Florida

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Development Site46,424 SF
Sold 11/29/2021
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Property Image
SOLD

Teddy Sagi, Jorge Pérez, And Jon Paul Pérez Acquire North Miami Development Site For $11.03M

2305 Northeast 123rd Street, North Miami, FL, USA

See Similar Deals
Development Site46,424 SF
Sold 11/29/2021
John Crotty
David Duckworth
+ 6
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$237
Total Square Footage:46,424 SF
Transaction Type:Sale

A development site in North Miami has been sold for $11,030,000. The property, located at 2305 NE 123rd Street, spans 46,424 square feet and has a price per square foot of $238. The buyer of the site is Teddy Sagi, Jorge Pérez, and Jon Paul Pérez, while the seller is Mario Murgado. The deal was facilitated by brokers Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Berkley Bloodworth from Avison Young.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $11,030,000
  • Address: 2305 NE 123rd Street, North Miami
  • Market: North Miami

Teddy Sagi, Jorge Pérez, and Jon Paul Pérez were the buyers of the development site, while Mario Murgado was the seller. Avison Young represented both parties in the transaction, with brokers Michael T. Fay, Brian C. de la Fé, John K. Crotty, David Duckworth, and Berkley Bloodworth overseeing the deal.

Players

John Crotty
51 deals$1.5B volume(305) 345-9567
BROKER

Michael Fay
Avison Young
49 deals$1.4B volume(305) 447-7842
BROKER

Berkley Bloodworth
Avison Young
12 deals$146.2M volume
BROKER

David Duckworth
Avison Young
44 deals$1.2B volume
BROKER

Brian de la Fé
Avison Young
46 deals$1.3B volume(305) 476-7134
BROKER


Mario Murgado
3 deals$24.1M volume
SELLER

Details

SOLD
IMAGE: Brian C. de la Fé, John K. Crotty, David Duckworth, Berkley Bloodworth & Michael T. Fay DATE: 11/29/2021 ADDRESS: 2305 NE 123rd Street MARKET: North Miami ASSET TYPE: Development Site BUYER: Teddy Sagi, Jorge Pérez & Jon Paul Pérez SELLER: Mario Murgado BROKERS: Michael T. Fay (@MichaeltFay), Brian C. de la Fé (@BcDelafe), John K. Crotty (@JohnkCrotty), David Duckworth, Berkley Bloodworth - Avison Young SALE PRICE: $11,030,000 BSF: 150,000 ~ PPBSF: $74 SF: 46,424 ~ PPSF: $238

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$588,266.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,187.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,287.83
Annual Debt Service$627,453.93