William Ticona Acquires Development Site In Miami For $19.2M
SOLD
$19,200,000
Florida
See Similar DealsDevelopment Site
Sold 01/31/2024
SOLD
William Ticona Acquires Development Site In Miami For $19.2M
423 Northeast 27th Street, 426 Northeast 28th Street & 434 Northeast 28th Street
See Similar DealsDevelopment Site
Sold 01/31/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 423 Northeast 27th Street, 426 & 434 Northeast 28th Street in Miami has been sold for a total price of $19,200,000. The property is situated in a prime location in the Miami market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $19,200,000
- Buyer: William Ticona
- Seller: PR Group - Christophe Petit & Julien Ridon
- Buyer's Representative: Eva Garzon - The Grand Lion Real Estate Group
- Seller's Representative: Jim Agard - Vendome Capital
Eva Garzon of The Grand Lion Real Estate Group represented the buyer, William Ticona, in this transaction. Jim Agard of Vendome Capital represented the seller, PR Group - Christophe Petit & Julien Ridon.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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