Updated Oct 28, 2024
LIVWRK Acquires 2.5 Acre Development Site In Miami For $25M
2400 North Miami Avenue, Miami, FL, USA
$25,000,000
Building Size
—
Asset Type
Development Site
Closing
May 26, 2020
About this deal
AI
An investment and development opportunity recently closed in Miami with the sale of a development site located at 2400 & 2500 North Miami Avenue. The property, spanning approximately 2.5 acres, was sold for a price of $25,000,000. This translates to a purchase price per acre of $10,000,000. The site has the potential to accommodate a total building area of 650,000 square feet, resulting in a price per square footage of $38.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,000,000
- Address: 2400 & 2500 North Miami Avenue
- Market: Miami
The buyer of this development site is LIVWRK, while East End Capital acted as the seller. The transaction was facilitated by Robert Given, Adam Spies, and Adam Doneger who represented the respective parties involved.
On the Map
$25,000,000
Development Site
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Players
Miami 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93