Toussaint Atellers Acquires Development Site In Miami For $7.6M
237 NE 54th St Miami, FL 33137, USA
$7,600,000
$1,746/SF
Building Size
4,352 SF
Asset Type
Development Site
Closing
Sep 8, 2023
AI
A development site located at 237 NE 54 Street in Miami has been sold for a total of $7,600,000. Spanning across 4,352 square feet, the site was acquired by Toussaint Atellers Residences, represented by William Jacome, while the seller, 54 St Investments, was represented by Henry Dow. The transaction was facilitated by brokers Giovanni Bertolotti and Carlos Fausto Miranda of Fausto Commercial Realty Consultants.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $7,600,000
- Address: 237 NE 54 Street, Miami
- Buyer: Toussaint Atellers Residences - William Jacome
- Seller: 54 St Investments - Henry Dow
- Brokers: Giovanni Bertolotti & Carlos Fausto Miranda - Fausto Commercial Realty Consultants
- Square Footage: 4,352
- Price per Square Foot: $1,746
The transaction highlights the involvement of key individuals in the deal, including William Jacome representing Toussaint Atellers Residences as the buyer, and Henry Dow representing 54 St Investments as the seller. The successful completion of the transaction was made possible through the expertise and negotiation skills of brokers Giovanni Bertolotti and Carlos Fausto Miranda from Fausto Commercial Realty Consultants.
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
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93