Elias Esber Acquires Key Biscayne Development Site For $8.5M
630 South Mashta Drive, Key Biscayne, FL 33149, USA
$8,500,000
$566/SF
Building Size
15,000 SF
Asset Type
Development Site
Closing
Jun 30, 2020
AI
A development site located at 630 South Mashta Drive in Key Biscayne has been sold for $8,500,000. Spanning 15,000 square feet, the property offers a buildable square footage (BSF) of 15,000 and a price per buildable square foot (PPBSF) of $566.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $8,500,000
- Address: 630 South Mashta Drive, Key Biscayne
- Market: Key Biscayne
- BSF: 15,000
- PPBSF: $566
Elias Esber has acquired the property from Oceana Key Biscayne Corp, represented by Morella Rincon. The transaction was facilitated by Jessica Juliao of Cervera Real Estate.
Players
Key Biscayne 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93