Updated Dec 21, 2023
Babba Yesharim Acquires Development Site In Spring Gardens For $5.7M
678 Northwest North River Drive, Miami, FL 33136, USA
$5,700,000
$57/SF
Building Size
100,000 SF
Asset Type
Development Site
Closing
Jul 21, 2020
About this deal
AI
An development site in Spring Gardens has been sold for $5,700,000. The property, located at 678, 700, 710, 720 NW N River Drive, has a total square footage of 100,000 square feet. The sale price per buildable square foot (PPBSF) is $57. The transaction took place on July 21, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,700,000
- Address: 678, 700, 710, 720 NW N River Drive
- Market: Spring Gardens
- BSF: 100,000 square feet
- PPBSF: $57
The buyer of the property is Babba Yesharim, while the seller is Gran Ritchie. The deal was facilitated by Tomas Sulichin of Related ISG Commercial.
Players
Miami 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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93