Gabriel Boano & Silvio Caprino Buy Development Site In Miami For $13.5M
SOLD
$13,500,000
Florida
See Similar DealsDevelopment Site30,266 SF
Sold 05/22/2024
SOLD
Gabriel Boano & Silvio Caprino Buy Development Site In Miami For $13.5M
2650 Biscayne Boulevard
See Similar DealsDevelopment Site30,266 SF
Sold 05/22/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$446
Total Square Footage:30,266 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$720,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65
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