Updated Jul 1, 2025
SOLDDevelopment Site
Michael Kosnitzky Sells Development Site At 271 Bal Cross Drive For $6,242,500 With Joel Lusky & Zalmy Shapiro As Brokers
271 Bal Cross Drive
$6,242,500
Building Size
—
Asset Type
Development Site
Closing
Jan 20, 2023
About this deal
AI
The property asset involved in the transaction is a development site located at 271 Bal Cross Drive in Bal Harbour. The sale price for the asset was $6,242,500.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,242,500
- Seller: Michael Kosnitzky
- Broker: Joel Lusky & Zalmy Shapiro - The Brokerage RE
- Date of Sale: 01/20/2023
This transaction was facilitated by brokers Joel Lusky and Zalmy Shapiro, representing the seller, Michael Kosnitzky, ensuring a successful deal in the Bal Harbour market.
Players
Bal Harbour Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93