Updated Dec 4, 2024
Biscayne Companies Acquires Development Site From Ivan Rabinovich In Miami For $1.225M
2845 Northwest 54th Street
$1,225,000
$41/SF
Building Size
29,520 SF
Asset Type
Development Site
Closing
Jun 19, 2024
About this deal
AI
The property asset involved in the transaction is located at 2845 Northwest 54th Street in Miami. This development site has a total square footage of 29,520, with a building size factor (BSF) of 48,131. The price per building square foot (PPBSF) is $25, while the price per square foot (PPSF) is $41. The transaction amount for this property amounted to $1,225,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,225,000
- Buyer: Biscayne Companies
- Seller: Ivan Rabinovich
- Brokers: Sebastian Faerman & Fabio Faerman - FA Commercial
- Market: Miami
- BSF: 48,131
- PPBSF: $25
- SF: 29,520
- PPSF: $41
In this transaction, Biscayne Companies acquired the development site from seller Ivan Rabinovich. The brokers facilitating the deal were Sebastian Faerman and Fabio Faerman from FA Commercial, representing the respective parties in this closed transaction.
On the Map
$1,225,000
$41/SF
Development Site
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Players
Miami Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.95%
Cash-on-Cash
-3.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93