Updated Oct 29, 2024
Alure Capital Acquires Development Site In Miami Beach For $10.2M
4333 Pine Tree Dr Miami Beach, FL 33140, USA
$10,200,000
$2,210/SF
Building Size
4,615 SF
Asset Type
Development Site
Closing
Jul 31, 2023
About this deal
AI
A development site located at 4333 Pine Tree Drive in Miami Beach has been sold for a price of $10,200,000. The property spans across 4,615 square feet, resulting in a price per square foot of $2,210.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,200,000
- Address: 4333 Pine Tree Drive, Miami Beach
- Square Footage: 4,615
- Price per Square Foot: $2,210
The buyer of the development site is Alure Capital, while the seller is Peter Bromer. Adam Redolfi from Alure Capital represented the buyer in this transaction, and Jonathan Mann from Coldwell Banker represented the seller.
On the Map
$10,200,000
$2,210/SF
Development Site
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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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93