Bruce Berkowitz Sells Development Site In Edgewater For $35M With Alex Suarez - Global Investments Realty
2626 Biscayne Boulevard, Miami, Florida 33138, United States
$35,000,000
$30/SF
Building Size
1,167,660 SF
Asset Type
Development Site
Closing
Jun 30, 2022
AI
A development site located at 2626 Biscayne Blvd in the Edgewater market was recently sold for a price of $35,000,000. The property offers a total building square footage (BSF) of 1,167,660, with a price per BSF (PPBSF) of $30. The sale took place on July 1, 2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $35,000,000
- Address: 2626 Biscayne Blvd
- Market: Edgewater
- BSF: 1,167,660
- PPBSF: $30
The seller of the development site was Bruce Berkowitz, while Alex Suarez from Global Investments Realty represented the seller as the broker in the deal.
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93