Oren Alexander, Julian Cohen & Marlon Cohen Acquire Dev. Site On Miami Beach For $16.5M
5840 N Bay Rd, Miami Beach, FL, USA
$16,500,000
$435/SF
Building Size
37,895 SF
Asset Type
Development Site
Closing
Dec 21, 2020
AI
A development site located at 5840 N Bay Rd in Miami Beach has been sold for $16,500,000. The property spans 0.63 acres and is situated in the Miami Beach market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $16,500,000
- Address: 5840 N Bay Rd, Miami Beach
- Market: Miami Beach
- Asset Type: Development Site
The sale was facilitated by a team of brokers including Julian Cohen and Jill Zeder Beach from Douglas Elliman, Oren Alexander from Alexander Team - Douglas Elliman, and Marlon Cohen from Compass.
Players
Miami Beach 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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93