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25 Northwest 23rd Street

Eric Benaim Of Benaim X Partners Acquires Development Site In Miami For $1.35M
SOLDDevelopment Site

Eric Benaim Of Benaim X Partners Acquires Development Site In Miami For $1.35M

25 Northwest 23rd Street

$1,350,000

$450/SF

Building Size

3,000 SF

Asset Type

Development Site

Closing

May 14, 2025

AI

The development site located at 25 Northwest 23rd Street in Miami has an asset sale price of $1,350,000. The property features a total building square footage of 3,000, with a price per square foot of $450. The building site spans approximately 19,000 square feet, translating to a price per base square foot of $71.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,350,000
  • Address: 25 Northwest 23rd Street
  • Market: Miami
  • Building Square Footage: 3,000
  • Price per Square Foot: $450
  • Base Square Footage: 19,000
  • Price per Base Square Foot: $71
  • Buyer: Eric Benaim - Benaim x Partners
  • Seller: Chaim Cahane - Forte Capital Management
  • Attorneys: Marc Lavaia & Patrick Calella - Warshaw Burstein LLP

In this transaction, Eric Benaim represented Benaim x Partners as the buyer, while Chaim Cahane was the seller representing Forte Capital Management. The legal aspects of the deal were managed by Marc Lavaia and Patrick Calella from Warshaw Burstein LLP.

Players

Eric Benaim

Buyer

$473.7M

vol

8 deals

Buyer

Chaim Cahane

Forte Capital Management

Seller

$52.4M

vol

9 deals

Seller

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

11.75%

Cash-on-Cash

-3.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93