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56 Southwest 1st Street, Mi...

Lions Group NYC Acquires Development Site In Miami For $10M
SOLDDevelopment Site

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

Mika Mattingly

Colliers

Broker

$528.8M

vol

34 deals

Broker
LN
Lions Group NYCBuyer

Marc D Schmulian

S2 Development

Seller

$14.1M

vol

2 deals

Seller
SD
S2 DevelopmentSeller

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