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4424 Northeast 2nd Avenue

Ophir Sternberg Purchases Development Site At 4424 Northeast 2nd Avenue For $2.455M
SOLDDevelopment Site

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

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.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$659M

vol

145 deals

Broker
Marcus & Millichap
Marcus & MillichapBrokerage

Ophir Sternberg

Buyer

$213.7M

vol

6 deals

Buyer

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