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Ironstate Development Group Acquires Development Site In Wynwood, Miami For $15.6M

Property Image
SOLD
$15,600,000
Andy Charry
Mika Mattingly
Cecilia Estevez
+ 2

Florida

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Development Site13,000 SF
Sold 04/15/2021
the dealplayerscompscontact
Property Image
SOLD

Ironstate Development Group Acquires Development Site In Wynwood, Miami For $15.6M

60 Northeast 27th Street, Wynwood, Miami, FL, USA

See Similar Deals
Development Site13,000 SF
Sold 04/15/2021
Andy Charry
Mika Mattingly
Cecilia Estevez
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1,200
Total Square Footage:13,000 SF
Transaction Type:Sale

A development site located at 60 Northeast 27th Street in Wynwood, Miami, has been sold for a total price of $15,600,000. The transaction took place on April 15, 2021.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $15,600,000
  • Address: 60 Northeast 27th Street, Wynwood, Miami

The buyer of the development site is Ironstate Development Group, represented by David and Michael Barry. They were assisted in the transaction by Mika Mattingly and Cecilia Estevez from Colliers International Florida. The seller's representative in the deal was Andy Charry from Metro 1.

Players

Mika Mattingly
Colliers
Mika Mattingly
34 deals$528.8M volume(786) 486-4391
BROKER
Cecilia Estevez
Colliers
Cecilia Estevez
20 deals$375.9M volume(786) 433-5393
BROKER
Andy Charry
STL Commercial
Andy Charry
10 deals$53.5M volume(305) 298-5503
BROKER
DB
David Barry
5 deals$697.6M volume
BUYER
MB
Michael Barry
4 deals$230.6M volume
BUYER

Details

SOLD
IMAGE: Michael Barry, Mika Mattingly, David Barry, Andy Charry & Cecilia Estevez DATE: 04/15/2021 ADDRESS: 60 Northeast 27th Street MARKET: Wynwood, Miami ASSET TYPE: Development Site BUYER: Ironstate Development Group - David & Michael Barry BUYER'S REP: Mika Mattingly & Cecilia Estevez - Colliers International Florida SELLER'S REP: Andy Charry - Metro 1 PRICE: $15,600,000

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

$832,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,423.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,951.96
Annual Debt Service$887,423.50