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60 Northeast 27th Street, W...

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

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

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

$15,600,000

$1,200/SF

Building Size

13,000 SF

Asset Type

Development Site

Closing

Apr 14, 2021

AI

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

Broker

$528.8M

vol

34 deals

Broker

David Barry

Buyer

$697.6M

vol

5 deals

Buyer

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

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93