The development site located at 292nd Street & 181th Avenue in Miami has been sold for $1,500,000. The property spans 217,800 square feet, resulting in a price per square foot of $7. The buyer of the site is Isabianca Investments, while the seller is JP Capital International Investments represented by Jean Paul Castellanos from Miami New Realty.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,500,000
• BSF: 65,340 ~ PPBSF: $23
• SF: 217,800 ~ PPSF: $7
• Address: 292nd Street & 181th Avenue
• Market: Miami

Jean Paul Castellanos, who also served as the broker in this transaction, successfully rezoned the property from AU to EU-S. Additionally, under his representation, JP Capital International Investments obtained a Tentative Plat for 10 single-family lots on the development site. The project is strategically located adjacent to DR Horton's 49 Home Development project, Krome Grove Estates.