Updated Oct 28, 2024
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
About this deal
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.
On the Map
$10,000,000
Development Site
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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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93