Updated Oct 28, 2024
Related Group And Merrimac Ventures Acquire Miami Development Site For $12M
601 North Miami Avenue, Miami, Florida 33132, United States
$12,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 3, 2022
About this deal
AI
601 North Miami Avenue & 25 Northeast Sixth Street, a development site located in Miami, has been sold for $12,000,000. The property spans 0.6 acres and is a valuable asset in the Miami market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,000,000
- Address: 601 North Miami Avenue & 25 Northeast Sixth Street
- Market: Miami
- Acres: 0.6
The buyer of this property is Related Group represented by Jorge M. Pérez and Merrimac Ventures represented by Dev Motwani. The seller is Miami Worldcenter Associates. The transaction took place on January 3, 2022.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93