Hartstone Investments Ltd Acquires Development Site On Star Island For $10M
SOLD
$10,000,000
Florida
See Similar DealsDevelopment Site479,160 SF
Sold 06/11/2020
SOLD
Hartstone Investments Ltd Acquires Development Site On Star Island For $10M
Star Island, Miami Beach, FL 33139, USA
See Similar DealsDevelopment Site479,160 SF
Sold 06/11/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$20
Total Square Footage:479,160 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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