Lions Group NYC Acquires Development Site In Miami For $10M
56 Southwest 1st Street, Miami, FL, USA
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 30, 2020
AI
J. Claudio Stivelman and Marc Schmulian of S2 Development have sold a development site in Miami. The property, located at 56 Southwest First Street and 65 Southwest 2nd Street, was purchased by Lions Group NYC for a total of $10,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Seller: S2 Development - J. Claudio Stivelman & Marc Schmulian
- Seller's Rep: Mika Mattingly & Cecelia Estevez - Colliers International
- Buyer: Lions Group NYC - Albert Shirian
- Buyer's Rep: Estrella Perez - EP Realty
Mika Mattingly and Cecelia Estevez of Colliers International represented the sellers, while Estrella Perez of EP Realty represented the buyers in this transaction.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93