Updated Oct 29, 2024
Property Markets Group Acquires Development Site In Miami From RedSky Capital & JZ Capital For $11.5M
2407 Northwest 2nd Avenue, Miami, FL, USA
$11,500,000
$821/SF
Building Size
14,000 SF
Asset Type
Development Site
Closing
Dec 3, 2020
About this deal
AI
Property Markets Group (PMG) has acquired a development site in Miami for $11,500,000. The property, located at 2407 Northwest 2nd Avenue, spans 14,000 square feet and was sold by RedSky Capital and JZ Capital. The sale took place on December 4, 2020.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Market: Miami
- Square Footage: 14,000
- Price per Square Foot: $821
Property Markets Group's (PMG) acquisition of the development site in Miami was facilitated by Ryan Shear, Kevin Maloney, and Daniel Kaplan from PMG's team. The sellers, RedSky Capital and JZ Capital, were represented in the deal by their respective representatives.
On the Map
$11,500,000
$821/SF
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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93