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

Property Image
SOLD
$1,350,000
Eric Benaim
CC

Florida

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Development Site3,000 SF
Sold
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Property Image
SOLD

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

25 Northwest 23rd Street

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Development Site3,000 SF
Sold
Eric Benaim
CC
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$450
Total Square Footage:3000 SF
Transaction Type:Sale

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
Eric Benaim
8 deals$473.7M volume
BUYER
CC
Chaim Cahane
9 deals$52.4M volume
SELLER

Details

SOLD
IMAGE: Chaim Cahane & Eric Benaim DATE: 5/15/2025 ADDRESS: 25 Northwest 23rd Street MARKET: Miami ASSET TYPE: Development Site BUYER: Eric Benaim (@EricBenaim) - Benaim x Partners (@BenaimxPartners) SELLER: Chaim Cahane - Forte Capital Management (@ForteCapital) @benaimxpartners ATTORNEY: Marc Lavaia (@Marc.Lavaia1) & Patrick Calella - Warshaw Burstein LLP SALE PRICE: $1,350,000 BSF: 19,000 ~ PPBSF: $71 SF: 3,000 ~ PPSF: $450 NOTE FROM BUYER: This acquisition is part of BenaimXPartners Assemblage, their second acquisition in Miami and gains more control of the entire block.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$72,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26