Updated Oct 29, 2024
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
About this deal
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.
On the Map
$15,600,000
$1,200/SF
Development Site
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Players
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