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2601 Northwest 6th Avenue

James Curnin Acquires Development Site In Miami For $7.7M With Buyer's Rep Jordan Karp
SOLDDevelopment Site

James Curnin Acquires Development Site In Miami For $7.7M With Buyer's Rep Jordan Karp

2601 Northwest 6th Avenue

$7,700,000

Building Size

Asset Type

Development Site

Closing

Jan 5, 2024

AI

The development site located at 2601 Northwest 6th Avenue in Miami has been sold. The property spans 16,800 square feet and was sold for a total price of $7,700,000. The buyer of the site is James Curnin, while the seller is The Little Old Real Estate Co, represented by Kenneth Sager, Barry Burke, Cindy Burke, and Lindsay Burke Casey. The buyer's representative in this transaction is Jordan Karp from Jordan Karp LLC, and the seller's representative is Jeremy S. Larkin from NAI Capital. The price per square foot for this transaction is $458.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $7,700,000
  • Address: 2601 Northwest 6th Avenue, Miami
  • Market: Miami
  • Buyer: James Curnin
  • Seller: The Little Old Real Estate Co
  • Seller's Representatives: Kenneth Sager, Barry Burke, Cindy Burke, Lindsay Burke Casey
  • Buyer's Representative: Jordan Karp from Jordan Karp LLC
  • Square Footage: 16,800
  • Price per Square Foot: $458

The sale of this development site was facilitated by Jordan Karp from Jordan Karp LLC, representing the buyer, and Jeremy S. Larkin from NAI Capital, representing the seller. The transaction price of $7,700,000 reflects a price per square foot of $458 for the 16,800-square-foot property.

Players

Jordan Karp

Broker

$707.7M

vol

51 deals

Broker
James Curnin

James Curnin

Buyer

$207.5M

vol

9 deals

Buyer

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

2.06%

Cash-on-Cash

-0.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93