Updated Sep 23, 2026
Hartstone Investments Ltd Acquires Development Site On Star Island For $10M
Star Island, Miami Beach, FL 33139, USA
$10,000,000
$20/SF
Building Size
479,160 SF
Asset Type
Development Site
Closing
Jun 10, 2020
About this deal
AI
A development site located at 44 Star Island in Miami Beach has been sold for a price of $10,000,000. The property is situated in the market of Star Island and spans a total of 47,916 square feet. The price per buildable square foot (PPBSF) is estimated at $208.
Summary of tranasction details:
- Property Type: Development site
- Transaction Amount: $10,000,000
- BSF: 47,916
- PPBSF: $208
Hartstone Investments Ltd has acquired the property from Shay Kostiner. The transaction was facilitated by Brett Harris from Douglass Elliman and Techrin Hijazi from Brown Harris Stevens.
On the Map
$10,000,000
$20/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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93