Harvey Hernandez Acquires Development Site In Brickell, Miami For $7M
625 Southwest 1st Avenue
$7,000,000
$264/SF
Building Size
26,512 SF
Asset Type
Development Site
Closing
Sep 20, 2022
AI
The development site located at 625 SW 1st Ave, 66 SW 6 St, and 69 SW 7 St in Brickell, Miami has been sold for a total of $7,000,000. The property spans a total of 26,512 square feet, resulting in a price per square foot of $264. The sale was completed on September 20, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Square Footage: 26,512
- Price per Square Foot: $264
- Address: 625 SW 1st Ave, 66 SW 6 St, and 69 SW 7 St
- Market: Brickell, Miami
The buyer of the property is Harvey Hernandez, while the seller is Norman Superstein TR. The transaction was facilitated by the brokers Michael T. Fay, Brian C. de la Fé, John K. Crotty, and David Duckworth from Avison Young.
Additional information about the deal or the parties involved was not provided.
Players
Pompano Beach 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93