Updated Oct 29, 2024
AMLI Residential Acquires Development Site In Wynwood From TriStar Capital For $35M. Cushman & Wakefield Represents The Deal
45 Northwest 24th Street, Wynwood, Miami, FL, USA
$35,000,000
$52/SF
Building Size
669,600 SF
Asset Type
Development Site
Closing
Jan 14, 2020
About this deal
AI
A development site in Wynwood has been sold in a transaction valued at $35,000,000. The property, located at 45 Northwest 24th Street, spans a total of 669,600 square feet. The buyer, AMLI Residential, acquired the site from TriStar Capital, represented by David Edelstein. The deal was facilitated by Cushman & Wakefield brokers Robert Kaplan, Robert Given, Errol Blumer, Mark Rutherford, and Ricky Giles.
Summary of Transaction Details
- Property Type: Development site
- Transaction Amount: $35,000,000
- Address: 45 Northwest 24th Street
- Market: Wynwood
- Seller: TriStar Capital - David Edelstein
- Buyer: AMLI Residential
- Brokers: Cushman & Wakefield - Robert Kaplan, Robert Given, Errol Blumer, Mark Rutherford, Ricky Giles
- Total Area: 669,600 square feet
- Price per Square Foot: $52
The sale of the development site in Wynwood was completed on January 15, 2020. This transaction represents a significant investment opportunity in the vibrant Wynwood market, with its thriving arts and cultural scene.
On the Map
$35,000,000
$52/SF
Development Site
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Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
About $52 per square foot on a published $35M for 669,600 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93