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Property Markets Group Acquires Development Site In Miami From RedSky Capital & JZ Capital For $11.5M

Property Image
SOLD
$11,500,000
Daniel M Kaplan
Ryan Shear
KM

Florida

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Development Site14,000 SF
Sold 12/04/2020
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Property Image
SOLD

Property Markets Group Acquires Development Site In Miami From RedSky Capital & JZ Capital For $11.5M

2407 Northwest 2nd Avenue, Miami, FL, USA

See Similar Deals
Development Site14,000 SF
Sold 12/04/2020
Daniel M Kaplan
Ryan Shear
KM
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$821
Total Square Footage:14,000 SF
Transaction Type:Sale

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.

Players

Daniel M Kaplan
Property Markets Group
Daniel M Kaplan
8 deals$299.4M volume
BUYER
Ryan Shear
Property Markets Group
Ryan Shear
13 deals$1B volume
BUYER
KM
Property Markets Group
Kevin Maloney
16 deals$1.2B volume
BUYER
RedSky Capital
RedSky Capital
SELLER
JC
JZ Capital
SELLER

Details

SOLD
IMAGE: Ryan Shear, Kevin Maloney, & Daniel Kaplan⁠ DATE: 12/04/2020⁠ ADDRESS: 2407 Northwest 2nd Avenue⁠ MARKET: Miami⁠ ASSET TYPE: Development Site⁠ ⁠ BUYER: Property Markets Group (PMG) - Ryan Shear, Kevin Maloney, & Daniel Kaplan⁠ SELLER: RedSky Capital & JZ Capital⁠ ⁠ PRICE: $11,500,000⁠ SF: 14,000 ~ PPSF: $821

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
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