Updated Dec 19, 2023
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
About this deal
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.
On the Map
$35,000,000
$30/SF
Development Site
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Miami Development Site Market Snapshot
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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