Gabriel Boano & Silvio Caprino Buy Development Site In Miami For $13.5M
2650 Biscayne Boulevard
$13,500,000
$446/SF
Building Size
30,266 SF
Asset Type
Development Site
Closing
May 22, 2024
AI
Located at 2650 Biscayne Boulevard in Miami, the development site spans 30,266 square feet. The transaction involved a sale price of $13,500,000, equating to a price per square foot of $446.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $13,500,000
- Buyer: Gabriel Boano & Silvio Caprino - Art & Tec Development
- Seller: Neal Sandberg & Roger Schindler
- Seller's Rep: Adriano Salucci & Miguel Pinto - APEX Capital Realty
The deal was facilitated by Adriano Salucci and Miguel Pinto from APEX Capital Realty, who represented the sellers, Neal Sandberg and Roger Schindler. On the buyers' side were Gabriel Boano and Silvio Caprino from Art & Tec Development.
Players
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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93