Updated Dec 4, 2024
Steven Ross Of Purple Door Capital Acquires Development Site In Miami For $360K
510 NW 46 St
$360,000
$72/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
Oct 2, 2023
About this deal
AI
A development site located at 510 Northwest 46 Street in Miami has been sold in a closed transaction. The property, spanning 5,000 square feet, was sold for a price of $360,000, resulting in a price per square foot of $72.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $360,000
- Address: 510 Northwest 46 Street, Miami
- Market: Miami
- Buyer: Steven Ross - Purple Door Capital
- Date: 10/02/2023
- Square Footage: 5,000
Steven Ross, representing Purple Door Capital, was the buyer in this transaction. Purple Door Capital, led by Steven Ross, is actively and aggressively purchasing off-market land for speculative homes, existing high-end fix and flips, as well as industrial and multi-family properties in the tri-county area. Steven Ross also expresses interest in off-market opportunities of 100 units or more in the sunbelt states. For any potential deals, Steven Ross can be reached at [email protected] or by calling 305-630-8023.
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
44.06%
Cash-on-Cash
-12.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93