Updated May 12, 2025
Chaim Cahane & Alex Karakhanian Sell Development Site In Wynwood, Miami For $11.2M
2830 NW 5 Ave, Miami, Florida 33127, United States
$11,200,000
$658/SF
Building Size
17,000 SF
Asset Type
Development Site
Closing
Mar 17, 2022
About this deal
AI
The development site located at 2830 NW 5 Ave in Wynwood, Miami was sold for $11,200,000. The site covers a total area of 17,000 square feet, resulting in a price per square foot of $659. The property has a built space factor (BSF) of 86,000, leading to a price per built square foot (PPBSF) of $130.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,200,000
- BSF: 86,000
- PPBSF: $130
- SF: 17,000
- PPSF: $659
- Seller: Chaim Cahane & Alex Karakhanian
- Broker: Jordan Karp - Realty Company
- Date: 03/18/2022
Key individuals involved in the transaction include the sellers Chaim Cahane and Alex Karakhanian, who handled the sale of the property. The transaction was brokered by Jordan Karp, representing the Realty Company, facilitating the agreement between the parties.
On the Map
$11,200,000
$658/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93