William Ticona Acquires Development Site In Miami For $19.2M
423 Northeast 27th Street, 426 Northeast 28th Street & 434 Northeast 28th Street
$19,200,000
Building Size
—
Asset Type
Development Site
Closing
Jan 31, 2024
AI
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
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93