Updated Aug 25, 2026
Ernest Popescu Of Metrobloks Acquires 4.05 Acre Development Site In Miami For $13.6M
500 Northwest 137th Avenue
$13,600,000
Building Size
—
Asset Type
Development Site
Closing
Apr 4, 2025
About this deal
AI
A development site located at 500 Northwest 137th Avenue in Miami has been sold for $13,600,000. The site encompasses 4.05 acres, intended for the development of a data center measuring 116,045 square feet and possessing 15.2 megawatts of power capacity.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,600,000
- Buyer: Ernest Popescu - Metrobloks
- Seller: Richard W. Stone - Sagard Real Estate
- Buyer’s Representative: Matthew Bittel & Stuart Gordon - Cushman & Wakefield
- Seller’s Representative: Carlos Gaviria - Transwestern
Metrobloks acquired the property from Sagard Real Estate, with Cushman & Wakefield acting on behalf of the buyer and Transwestern representing the seller in this transaction.
On the Map
$13,600,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93