WAJ Developers Acquires Development Site In Miami For $7.05M
237 Northeast 54th Street
$7,050,000
$139/SF
Building Size
50,700 SF
Asset Type
Development Site
Closing
Sep 8, 2023
AI
Located in Miami, the development site at 237, 243, 251, 255 & 265 NE 54th St, 278, 268 & 256 NE 55th St has been sold in a recent transaction. The property spans a total of 50,700 square feet, with a price per square foot of $139. The sale price for this development site amounted to $7,050,000.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $7,050,000
- Address: 237, 243, 251, 255 & 265 NE 54th St, 278, 268 & 256 NE 55th St
- Market: Miami
- Buyer: WAJ Developers - William Jacome
- Seller: 54 St Investments - Henry Dow
- Broker: Andy Charry - Metro1
- Square Footage: 50,700
- Price per Square Foot: $139
The buyer of the property is WAJ Developers, represented by William Jacome, while the seller is 54 St Investments, represented by Henry Dow. The deal was facilitated by broker Andy Charry from Metro1. This transaction demonstrates the ongoing real estate activity in the Miami market and highlights the successful collaboration between the buyer, seller, and broker.
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
2.25%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93