TriStar Capital And RAL Development Acquire Development Site In Miami For $13M
2701 Northwest 5th Avenue, Miami, FL 33127, USA
$13,000,000
$642/SF
Building Size
20,239 SF
Asset Type
Development Site
Closing
Aug 2, 2020
AI
A development site located at 2701 Northwest Fifth Avenue in Miami was recently sold for $13,000,000. The transaction took place on 08/02/2021 and the sale was facilitated by Ari Dispenza of Central Commercial Real Estate.
Summary of transaction details:
- Property Type: Development Site
- Sale Price: $13,000,000
- Date: 08/02/2021
- Address: 2701 Northwest Fifth Avenue, Miami
- Buyer: David Edelstein - TriStar Capital; Robert Levine - RAL Development
- Seller: JCR Investments
- Broker: Ari Dispenza - Central Commercial Real Estate
The buyer of the property is David Edelstein from TriStar Capital and Robert Levine from RAL Development. The seller of the property is JCR Investments. Ari Dispenza of Central Commercial Real Estate represented the buyer in the transaction.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93