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3121 Northwest 7th Avenue, ...

UOVO Acquires Development Site In Allapattah, South Miami For $4.15M
SOLDDevelopment Site

UOVO Acquires Development Site In Allapattah, South Miami For $4.15M

3121 Northwest 7th Avenue, Miami, FL, USA

$4,150,000

$901/SF

Building Size

4,604 SF

Asset Type

Development Site

Closing

Jul 9, 2020

AI

A development site located at 3121 NW 7th Ave in Allapattah, South Miami has been sold for $4,150,000. The property was listed for the same price. The transaction took place on July 9, 2021, and involved UOVO, represented by Steve Gutman and Steve Novenstein, as the buyer and Babba Joshua Yesharim as the seller. The brokerage for this deal was handled by Agustin Duarte from REMAX 360.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $4,150,000
  • Address: 3121 NW 7th Ave
  • Market: Allapattah, South Miami

The deal was closed between UOVO, led by Steve Gutman and Steve Novenstein, and Babba Joshua Yesharim. Agustin Duarte from REMAX 360 served as the broker in this transaction.

Players

Agustin Duarte

Re/Max

Broker

$89.7M

vol

25 deals

Broker
Steve Novenstein

Steve Novenstein

UOVO

Buyer

$124.6M

vol

6 deals

Buyer
U
UOVOBuyer
Babba Joshua Yesharim

Babba Joshua Yesharim

Seller

$107.5M

vol

28 deals

Seller

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

3.82%

Cash-on-Cash

-1.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93