Michael Simpson Acquires Development Site On Biscayne Boulevard From Jose Canero For $3.65M
5215 Biscayne Boulevard
$3,650,000
$121/SF
Building Size
30,000 SF
Asset Type
Development Site
Closing
Aug 7, 2026
AI
The transaction involved the sale of a development site located at 5215 Biscayne Boulevard in Miami. The property was sold for a total price of $3,650,000, covering an area of approximately 30,000 square feet. The price per square foot was calculated to be $121.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,650,000
- Address: 5215 Biscayne Boulevard
- Market: Miami
- Square Footage: 30,000
- Price Per Square Foot: $121
- Buyer: Michael Simpson
- Seller: Jose Canero
- Brokers: Giovanni Mancini & Mina Taskiran - ONE Sotheby's International Realty
Giovanni Mancini and Mina Taskiran represented both the buyer and seller in this transaction. They accomplished a land assemblage totaling 28,000 square feet on prime Biscayne Boulevard. Their efforts in the market highlight their capability in facilitating significant property deals.
Players
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
4.35%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93