Ophir Sternberg Purchases Development Site At 4424 Northeast 2nd Avenue For $2.455M
SOLD
$2,650,000
Florida
See Similar DealsDevelopment Site10,710 SF
Sold 06/23/2025
SOLD
Ophir Sternberg Purchases Development Site At 4424 Northeast 2nd Avenue For $2.455M
4424 Northeast 2nd Avenue
See Similar DealsDevelopment Site10,710 SF
Sold 06/23/2025
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$247
Total Square Footage:10,710 SF
Transaction Type:Sale
The property involved in this transaction is a development site located at 4424 Northeast 2nd Avenue in Miami. The asset was sold for $2,455,000, encompassing a total area of 10,710 square feet, which translates to a price per square foot of $229.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,455,000
- Address: 4424 Northeast 2nd Avenue
- Market: Miami
- Square Footage: 10,710
- Price Per Square Foot: $229
- Buyer: Ophir Sternberg
- Seller: Brian James
- Buyer’s Representative: Ryan Kartheiser
- Seller’s Representative: Jonathan De La Rosa - Marcus & Millichap
This transaction included key individuals such as buyer Ophir Sternberg and seller Brian James, with Ryan Kartheiser acting as the buyer's representative and Jonathan De La Rosa representing the seller through Marcus & Millichap.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$141,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,414.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,562.35
Annual Debt Service$150,748.22
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