Updated Sep 9, 2024
Erin Pickard Acquires Development Site On Madeira Avenue In Coral Gables For $1.63M
600 Madeira Ave Coral Gables, FL 33134, USA
$1,630,000
Building Size
—
Asset Type
Development Site
Closing
May 8, 2023
About this deal
AI
A development site located at 600 Madeira Avenue in Coral Gables has been sold for a price of $1,630,000. The property, which was listed for sale, was purchased by Erin Pickard from the seller, Kim Marks.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,630,000
- Address: 600 Madeira Avenue
- Market: Coral Gables
Erin Pickard, the buyer, acquired the development site from Kim Marks. The transaction was facilitated by Joyce Torres of Luxe Properties, who acted as the buyer's representative in the deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.73%
Cash-on-Cash
-2.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93