Updated Jun 27, 2025
Ophir Sternberg Purchases Development Site At 4424 Northeast 2nd Avenue For $2.455M
4424 Northeast 2nd Avenue
$2,650,000
$247/SF
Building Size
10,710 SF
Asset Type
Development Site
Closing
Jun 23, 2025
About this deal
AI
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.
On the Map
$2,650,000
$247/SF
Development Site
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Players
Miami 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
5.99%
Cash-on-Cash
-1.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93