Updated Nov 28, 2024
Related Group And Alta Development Acquire 1.34-acre Development Site In Fort Lauderdale For $15.5M
409 Southeast 8th Street, Hialeah, Florida 33010, United States
$15,500,000
Building Size
—
Asset Type
Development Site
Closing
Jun 13, 2022
About this deal
AI
A development site located at 409 SE Eight Street in Fort Lauderdale was recently sold for a total of $15,500,000. The property covers an area of 1.34 acres and was acquired by the Related Group, represented by Jorge M. Perez, and Alta Development, represented by Henry Pino. The sellers, Salt Air 20 Development LLC, were represented by Robert Given of Cushman & Wakefield.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Address: 409 SE Eight Street, Fort Lauderdale
- Market: Fort Lauderdale
- Acres: 1.34
Robert Given from Cushman & Wakefield played a key role as the seller's representative in this deal. Meanwhile, Jorge M. Perez and Henry Pino represented the buying parties, Related Group and Alta Development, respectively.
On the Map
$15,500,000
Development Site
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Players
Hialeah 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93