facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Development Site

/

Sale

/

3411 Northwest 5th Avenue

Miguel Fernandez Acquires Development Site In Miami From Justin Cromartie David Sienema Ben Gettler For $2.8M
SOLDDevelopment Site

Miguel Fernandez Acquires Development Site In Miami From Justin Cromartie David Sienema Ben Gettler For $2.8M

3411 Northwest 5th Avenue

$2,800,000

$233/SF

Building Size

12,000 SF

Asset Type

Development Site

Closing

Aug 19, 2024

AI

The property asset involved in this transaction is a development site located at 3411 Northwest 5th Avenue in Miami. The sale price was $2,800,000 for an area of 12,000 square feet, resulting in a price per square foot of $233.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,800,000
  • Address: 3411 Northwest 5th Avenue
  • Market: Miami
  • Square Footage: 12,000
  • Price Per Square Foot: $233
  • Buyer: Miguel Fernandez
  • Seller: Justin Cromartie, David Sienema & Ben Gettler
  • Brokers: George Belesis & Rayza Perez - DWNTWN Realty Advisors

The key individuals involved in this deal include the buyer Miguel Fernandez and the sellers Justin Cromartie, David Sienema, and Ben Gettler. The transaction was facilitated by brokers George Belesis and Rayza Perez from DWNTWN Realty Advisors, representing the interests of the parties involved in the deal.

Players

George Belesis

DWNTWN Realty Advisors

Broker

$52.7M

vol

17 deals

Broker

Miami 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

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93