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
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