Fifield Companies Acquires Development Site In Wynwood, Miami For $19.5M
SOLD
$19,500,000
Florida
See Similar DealsDevelopment Site61,250 SF
Sold 01/10/2022
SOLD
Fifield Companies Acquires Development Site In Wynwood, Miami For $19.5M
45 Northeast 27th Street, Miami, Florida 33137, United States
See Similar DealsDevelopment Site61,250 SF
Sold 01/10/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$318
Total Square Footage:61,250 SF
Transaction Type:Sale
A development site located at 45 Northeast 27 Street in Wynwood, Miami has been sold for a price of $19,500,000. The property has a total square footage of 61,250 and was sold at a price per square foot of $318. The sale also included a buildable square footage (BSF) of 441,000, resulting in a price per buildable square foot (PPBSF) of $44.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $19,500,000
- Address: 45 Northeast 27 Street, Wynwood, Miami
- Market: Wynwood, Miami
The buyer of the property was Fifield Companies, while the seller was CHO RE Holdings represented by Tony Cho, Scott Silver, and Newcomb Properties. The deal was facilitated by Juan Andres Nava and Jack Conrad from Metro 1 Commercial, serving as the brokers.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$69,279.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$92,439.95
Annual Debt Service$1,109,279.38
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