Mathieu Massa Acquires Miami Beach Development Site For $13.5M
427 22nd Street, Miami Beach, Florida 33139, United States
$13,500,000
$792/SF
Building Size
17,040 SF
Asset Type
Development Site
Closing
Feb 22, 2022
AI
A development site located at 427 22nd Street & 2206 Park Avenue in Miami Beach has been sold for a total price of $13,500,000. The property spans a total area of 17,040 square feet and is classified as a development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,500,000
- Address: 427 22nd Street & 2206 Park Avenue, Miami Beach
- Market: Miami Beach
The buyer of the property is Mathieu Massa, while the seller is Enrique Colmenares. The transaction was facilitated by Susan Gale from One Sotheby’s International Realty. City National Bank of Florida provided the lending for the deal. The price per square foot for the property is approximately $792.
Players
Miami Beach 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93