Updated Oct 29, 2024
David Deshe's Vero Water Acquires Development Site On North Bay Road In Miami Beach For $8.5M
4350 North Bay Road, Miami Beach, FL, USA
$8,500,000
$467/SF
Building Size
18,180 SF
Asset Type
Development Site
Closing
Jul 5, 2020
About this deal
AI
A development site located at 4350 North Bay Road in Miami Beach has been sold in a recent transaction. The property, situated in a prime location, offers a total area of 18,180 square feet of buildable space. The sale price for this development site was $8,500,000, resulting in a price per buildable square foot of $468. The transaction took place on 07/06/2020.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $8,500,000
- Buildable Square Footage: 18,180
- Price per Buildable Square Foot: $468
- Address: 4350 North Bay Road, Miami Beach
- Date: 07/06/2020
The buyer of the property is David Deshe, representing Vero Water. The sellers are Petra and Stephen Levin. The deal was facilitated by Jill Hertzberg from Coldwell Banker, who acted as the broker in the transaction.
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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93