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5215 Biscayne Blvd Miami, F...

Jose Canero & Justin Rundle Acquire Development Site In Miami For $2.05M
SOLDDevelopment Site

Jose Canero & Justin Rundle Acquire Development Site In Miami For $2.05M

5215 Biscayne Blvd Miami, FL 33137, USA

$2,050,000

Building Size

Asset Type

Development Site

Closing

Jul 24, 2023

AI

Located at 5215 Biscayne Boulevard in Miami, this development site has been sold in a recent transaction. The property is spacious and offers great potential for development. The sale price for this asset was $2,050,000, reflecting its value in the market.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $2,050,000
  • Address: 5215 Biscayne Boulevard, Miami
Jose Canero and Justin Rundle are the buyers who acquired this property. They have plans to build 10 luxury townhomes on the site. Each townhome will boast its own private elevator, garage, and roof deck, offering luxurious amenities to the future residents. The buyer's vision for this property demonstrates their commitment to providing high-end housing options in the area.

Players

Jose Canero

Buyer

$150.7M

vol

12 deals

Buyer

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

7.74%

Cash-on-Cash

-2.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93