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Alure Capital Acquires Development Site In Miami Beach For $10.2M

Property Image
SOLD
$10,200,000
Jonathan (Jon) Mann
Adam Redolfi

Florida

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Development Site4,615 SF
Sold 07/31/2023
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Property Image
SOLD

Alure Capital Acquires Development Site In Miami Beach For $10.2M

4333 Pine Tree Dr Miami Beach, FL 33140, USA

See Similar Deals
Development Site4,615 SF
Sold 07/31/2023
Jonathan (Jon) Mann
Adam Redolfi
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$2,210
Total Square Footage:4,615 SF
Transaction Type:Sale

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.

Players

Adam Redolfi
Alure Capital
Adam Redolfi
10 deals$69.3M volume(786) 328-9237
BROKER
Jonathan (Jon) Mann
Coldwell Banker
Jonathan Mann
22 deals$348.6M volume
BROKER
Alure Capital
Alure Capital
BUYER

Details

SOLD
IMAGE: Adam Redolfi DATE: 07/31/2023 ADDRESS: 4333 Pine Tree Drive MARKET: Miami Beach ASSET TYPE: Development Site BUYER: Alure Capital SELLER: Peter Bromer BUYER'S REP: Adam Redolfi (@AdamlRed) - Alure Capital SELLER'S REP: Jonathan Mann - Coldwell Banker (@ColdwellBanker) SALE PRICE: $10,200,000 SF: 4,615 ~ PPSF: $2,210

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$544,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45