Updated Feb 13, 2025
Dina Goldentayer Of Douglas Elliman Represents Buyer In $25.5 Million Development Site Sale In Miami Beach
5060 North Bay Road
$25,500,000
$845/SF
Building Size
30,144 SF
Asset Type
Development Site
Closing
Feb 6, 2025
About this deal
AI
The property involved in this transaction is a development site located at 5060 North Bay Road in Miami Beach. The asset has a total square footage of 30,144 and was sold for a price of $25,500,000, resulting in a price per square foot of $845.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,500,000
- Square Footage: 30,144
- Price per Square Foot: $845
- Address: 5060 North Bay Road
- Market: Miami Beach
- Buyer's Representative: Dina Goldentayer - Douglas Elliman
- Seller's Representatives: Zalmy Shapiro & Joel Lusky - The Brokerage South Florida Real Estate
This transaction involved Dina Goldentayer representing the buyer, while Zalmy Shapiro and Joel Lusky represented the seller. The deal reflects the active market dynamics in Miami Beach, where development sites are in demand among investors.
On the Map
$25,500,000
$845/SF
Development Site
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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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93