CBRE Brokers Benjamin Silver & Leslie Maister Sell Miami Development Site On 2501 Biscayne Boulevard For $28.5M
2501 Biscayne Boulevard
$28,500,000
$589/SF
Building Size
48,351 SF
Asset Type
Development Site
Closing
Jan 16, 2024
AI
The development site located at 2501 Biscayne Boulevard in Miami has been sold for a price of $28,500,000. The property spans a total area of 48,351 square feet, resulting in a price per square foot of $589.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $28,500,000
- Address: 2501 Biscayne Boulevard
- Market: Miami
- Seller: David Berg & Steven Kassin
- Seller's Representative: Benjamin Silver & Leslie Maister - CBRE
The sale of this development site was facilitated by Benjamin Silver & Leslie Maister from CBRE, representing the sellers, David Berg and Steven Kassin.
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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93