Jennifer Taplin Sazant & Neil Sazant Acquire Miami Beach Development Site For $7.5M
SOLD
$7,500,000
Florida
See Similar DealsDevelopment Site15,800 SF
Sold 01/20/20
SOLD
Jennifer Taplin Sazant & Neil Sazant Acquire Miami Beach Development Site For $7.5M
4424 North Bay Road, Miami Beach, FL, USA
See Similar DealsDevelopment Site15,800 SF
Sold 01/20/20
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$474
Total Square Footage:15,800 SF
Transaction Type:Sale
A development site located at 4424 North Bay Road in Miami Beach has been sold for a price of $7,500,000. The property, with a total square footage of 15,800, was purchased by Jennifer Taplin Sazant and Neil Sazant. The transaction took place on January 21, 2020. The property is situated in the thriving market of Miami Beach, known for its desirable real estate opportunities.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $7,500,000
- Address: 4424 North Bay Road, Miami Beach
- Total Square Footage: 15,800
- Market: Miami Beach
Karen Stauber from Coldwell Banker and Lindsay McMinn from Berkshire Hathaway represented the buyers, Jennifer Taplin Sazant and Neil Sazant, in this transaction. Their expertise in the real estate market played a pivotal role in securing this successful deal.
This sale of the development site on North Bay Road showcases the continued growth and opportunities in Miami Beach's real estate market. With the guidance of Karen Stauber and Lindsay McMinn, Jennifer Taplin Sazant and Neil Sazant were able to make a strategic investment in this prime location.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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