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Julien Ridon & Christophe Petit Acquire Edgewater Development Site For $13.1M

Property Image
SOLD
$13,100,000
Fredrick Klein
David Cohen
Arthur David Porosoff
+ 4

Florida

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Development Site26,379 SF
Sold 04/26/2022
the dealplayerscompscontact
Property Image
SOLD

Julien Ridon & Christophe Petit Acquire Edgewater Development Site For $13.1M

423 Northeast 27th Street, Miami, Florida 33137, United States

See Similar Deals
Development Site26,379 SF
Sold 04/26/2022
Fredrick Klein
David Cohen
Arthur David Porosoff
+ 4
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$496
Total Square Footage:26,379 SF
Transaction Type:Sale

Located in the Edgewater market, the development site at 423 NE 27th St has been sold for a total of $13,100,000. The property, spanning 26,379 square feet, offers a low price per square foot of $497. The transaction involved the sale of 90 units, with a price per unit of $145,556.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $13,100,000
  • Address: 423 NE 27th St
  • Market: Edgewater

The buyer in this transaction was Julien Ridon & Christophe Petit, while the seller was Octavio Maza. Representing the buyer, Jim Agard from Vendome Capital facilitated the deal. On the seller's side, Fredrick Klein, Arthur Porosoff, and David Cohen, who are affiliated with Porosoff Group and Compass, acted as the seller's representatives.

Players

Jim Agard
Jim Agard
8 deals$97.6M volume
BROKER
Arthur David Porosoff
Arthur David Porosoff
25 deals$180.7M volume(305) 733-6066
BROKER
David Cohen
Horvath & Tremblay
David Cohen
10 deals$67.3M volume(954) 661-4908
BROKER
Fredrick Klein
Riviera Horizons
Fredrick Klein
3 deals$24.9M volume
BROKER
Christophe Petit
Christophe Petit
4 deals$52.5M volume
BUYER
JR
Julien Ridon
3 deals$47.4M volume
BUYER
OM
Octavio Maza
3 deals$47.4M volume
SELLER

Details

SOLD
IMAGE: Jim Agard, Fredrick Klein, Arthur Porosoff & David Cohen DATE: 04/26/2022 ADDRESS: 423 NE 27th St MARKET: Edgewater ASSET TYPE: Development Site BUYER: Julien Ridon & Christophe Petit SELLER: Octavio Maza BUYER'S REP: Jim Agard (@JimAgard) - Vendome Capital SELLER'S REP: Fredrick Klein (@FredKlein), Arthur Porosoff & David Cohen - Porosoff Group (@ThePorosoffGroup) - Compass (@Compass) (@CompassFl) SALE PRICE: $13,100,000 SF: 26,379 ~ PPSF: $497 UNITS: 90 ~ PPU: $145,556

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$46,541.54
Cash-on-Cash Return-1.27%
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