CBRE Brokers Benjamin Silver & Leslie Maister Sell Miami Development Site On 2501 Biscayne Boulevard For $28.5M
SOLD
$28,500,000
+ 1
Florida
See Similar DealsDevelopment Site48,351 SF
Sold 01/16/2024
SOLD
CBRE Brokers Benjamin Silver & Leslie Maister Sell Miami Development Site On 2501 Biscayne Boulevard For $28.5M
2501 Biscayne Boulevard
See Similar DealsDevelopment Site48,351 SF
Sold 01/16/2024
+ 1
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$589
Total Square Footage:48,351 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,519,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$101,254.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$135,104.54
Annual Debt Service$1,621,254.48
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