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5840 N Bay Rd, Miami Beach,...

Oren Alexander, Julian Cohen & Marlon Cohen Acquire Dev. Site On Miami Beach For $16.5M
SOLDDevelopment Site

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

Oren Alexander

Official

Broker

$2B

vol

106 deals

Broker
Coldwell Banker
Coldwell BankerBrokerage

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