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

Property Image
SOLD
$16,500,000
Marlon Cohen
Julian Cohen
Oren Alexander

Florida

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Development Site37,895 SF
Sold 12/22/2020
the dealplayerscompscontact
Property Image
SOLD

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

5840 N Bay Rd, Miami Beach, FL, USA

See Similar Deals
Development Site37,895 SF
Sold 12/22/2020
Marlon Cohen
Julian Cohen
Oren Alexander
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$435
Total Square Footage:37,895 SF
Transaction Type:Sale

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
Oren Alexander
106 deals$2B volume(305) 610-4559
BROKER
Julian Cohen
Douglas Elliman
Julian Cohen
23 deals$291.6M volume
BROKER
Marlon Cohen
Douglas Elliman
Marlon Cohen
5 deals$35.9M volume
BROKER
Coldwell Banker
Coldwell Banker
BROKERAGE

Details

SOLD
IMAGE: @OrenAlexander, @JulianCohen & Marlon Cohen ADDRESS: 5840 N Bay Rd MARKET: Miami Beach ASSET TYPE: Dev. Site BROKERS: @JulianCohen @JillsZederBeach, @OrenAlexander @AlexanderTeam - Douglas Elliman & Marlon Cohen (@TheMarlonCohen) - Compass PRICE: $16,500,000 ACRE: 0.63

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$880,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$58,621.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,218.42
Annual Debt Service$938,621.01