Aria Development Group Acquires Development Site In Downtown Miami For $11M
33 East 6th Street, Hialeah, Florida 33010, United States
$11,000,000
$458,333/SF
Building Size
24 SF
Asset Type
Development Site
Closing
Nov 30, 2022
AI
The development site located at 33, 45 & 55 NE 6th Street in Downtown Miami has been sold for a total of $11,000,000. The property spans an area of 24,000 square feet, resulting in a price per square foot of $458. The sale was completed on November 30, 2022, and the transaction involved the Aria Development Group as the buyer and the International Longshoremen's Association as the seller.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Square Footage: 24,000
- Price per Square Foot: $458
- Date: November 30, 2022
- Market: Downtown Miami
The buyer, Aria Development Group, was represented by David Arditi. David Arditi acted as the representative of the buyer in this deal. On the other hand, the International Longshoremen's Association served as the seller of the development site. The sale of this property marks a significant transaction in the Downtown Miami market, offering development potential and investment opportunity.
Hialeah Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93