The John Buck Company Acquires Development Site In Downtown Miami For $39.5M
533 Northwest 2nd Avenue
$39,500,000
$88/SF
Building Size
448,668 SF
Asset Type
Development Site
Closing
Feb 6, 2023
AI
A development site located at 533 Northwest 2nd Avenue in Downtown Miami has been sold for a total of $39,500,000. The property spans a total area of 448,668 square feet, resulting in a price per square foot of $88.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $39,500,000
- Address: 533 Northwest 2nd Avenue
- Market: Downtown Miami
The buyer of this development site is The John Buck Company, while the sellers are Meyers Group and BH Group. The deal was facilitated by Jaret Turkell, Roberto Pesant, Scott Wadler, Omar Morales, Jose Mota, and Yoav Yuhjtman of Berkadia.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93