Italo Balbi & Ashley Bosch Acquire Development Site In Miami For $3.3M
413 Northwest 3rd Street & 421 Northwest 3rd Street
$3,300,000
$110/SF
Building Size
30,000 SF
Asset Type
Development Site
Closing
Dec 19, 2023
AI
A development site located at 413-421 Northwest 3rd Street in Miami has been sold for $3,300,000. The property spans 15,000 square feet, resulting in a price per square foot of $220.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,300,000
- Address: 413-421 Northwest 3rd Street, Miami
- Market: Miami
- Buyer: Italo Balbi & Ashley Bosch
- Seller: Ariel Gorelik
- Seller's Rep: Cecilia Estevez & Mika Mattingly - Colliers International
- Square Footage: 15,000 sqft
- Price per Square Foot: $220
Italo Balbi and Ashley Bosch have acquired the property from Ariel Gorelik. Represented by Cecilia Estevez and Mika Mattingly of Colliers International, the buyers successfully closed the deal for this development site in Miami.
Players
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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93