Updated Dec 4, 2024
Steven Ross Of Purple Door Capital Acquires Miami Development Site For $500K
254 Northwest 52nd Street
$500,000
Units
100
Asset Type
Development Site
Closing
Sep 30, 2023
About this deal
AI
A development site located at 254 Northwest 52nd Street in Miami has been sold in a recent transaction. The property is an off-market land perfect for spec homes, as well as existing industrial and multi-family properties. The buyer, Steven Ross of Purple Door Capital, is actively and aggressively acquiring such properties in the tri-county area. Additionally, Ross is interested in off-market deals for 100 units or more in sunbelt states. If you have any suitable properties to offer, you can reach out to him at [email protected] or call 305-407-2236.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $500,000
Steven Ross, representing Purple Door Capital, played a key role in this transaction as the buyer. Purple Door Capital is actively seeking off-market properties for various development purposes, including spec homes and industrial/multi-family properties. With a focus on the tri-county area, Ross is interested in expanding their portfolio in the real estate market. For any potential deals or inquiries, feel free to contact Ross through the provided email address or phone number.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
31.73%
Cash-on-Cash
-9.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93