Updated Oct 29, 2024
Franz-Ferdinand Buerstedde And Brittany Peltz Buerstedde Acquire Miami Beach Development Site For $10.75M
4721 Pine Tree Drive, Miami Beach, FL, USA
$10,750,000
$244/SF
Building Size
43,900 SF
Asset Type
Development Site
Closing
Jan 28, 2021
About this deal
AI
A development site located at 4721 Pine Tree Drive in Miami Beach has been sold for $10,750,000. The property spans over 1.01 acres and has a buildable square footage (BSF) of 43,900, resulting in a price per buildable square footage (PPBSF) of $245.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $10,750,000
- Address: 4721 Pine Tree Drive, Miami Beach
- Market: Miami Beach
The buyer of the property is Franz-Ferdinand Buerstedde from Rhône Group and Brittany Peltz Buerstedde from Sena Lifestyle Studio. The seller is Joel J. Meyerson from Pure Source. The deal was facilitated by Alison Zhuk and Oren Alexander from Douglas Elliman.
Notable individuals involved in the transaction include Oren Alexander, Brittany Peltz Buerstedde, Joel J. Meyerson, and Alison Zhuk.
Players
Miami Beach 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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93