facebook
Traded Co logo
Submit

Harvey Hernandez Acquires Development Site In Brickell, Miami For $7M

Property Image
SOLD
$7,000,000
John Crotty
David Duckworth
+ 2

Florida

See Similar Deals
Development Site26,512 SF
Sold 09/20/2022
the dealplayerscompscontact
Property Image
SOLD

Harvey Hernandez Acquires Development Site In Brickell, Miami For $7M

625 Southwest 1st Avenue

See Similar Deals
Development Site26,512 SF
Sold 09/20/2022
John Crotty
David Duckworth
+ 2
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$264
Total Square Footage:26,512 SF
Transaction Type:Sale

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

John Crotty
51 deals$1.5B volume(305) 345-9567
BROKER

Michael Fay
Avison Young
49 deals$1.4B volume(305) 447-7842
BROKER

David Duckworth
Avison Young
44 deals$1.2B volume
BROKER

Brian de la Fé
Avison Young
46 deals$1.3B volume(305) 476-7134
BROKER

Harvey Hernandez
12 deals$870.8M volume
BUYER

Details

SOLD
IMAGE: Brian C. de la Fé, David Duckworth, Michael T. Fay & John K. Crotty DATE: 09/20/2022 ADDRESS: 625 SW 1st Ave, 66 SW 6 St & 69 SW 7 St MARKET: Brickell, Miami ASSET TYPE: Development Site BUYER: Harvey Hernandez SELLER: Norman Superstein TR BROKERS: Michael T. Fay (@MichaeltFay), Brian C. de la Fé (@Bcdelafe), John K. Crotty (@JohnkCrotty), David Duckworth - Avison Young SALE PRICE: $7,000,000 SF: 26,512 ~ PPSF: $264

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$373,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85