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Richard Paul Richman's The Richman Group Acquires Development Site In Miami For $23M

Property Image
SOLD
$23,000,000
Jay Ziv
Michael Fay
John Crotty
+ 3

Florida

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Development Site122,186 SF
Sold 09/15/2022
the dealplayerscompscontact
Property Image
SOLD

Richard Paul Richman's The Richman Group Acquires Development Site In Miami For $23M

690 Northwest 13th Street, Miami, Florida 33125, United States

See Similar Deals
Development Site122,186 SF
Sold 09/15/2022
Jay Ziv
Michael Fay
John Crotty
+ 3
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$188
Total Square Footage:122,186 SF
Transaction Type:Sale

A development site located at 690 NW 13th St in Miami has been sold for a price of $23,000,000. The sale was completed on 09/15/2022.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $23,000,000
  • Address: 690 NW 13th St, Miami

The buyer in this transaction is Richard Paul Richman from The Richman Group, while the seller is Kelly Kite. The sale was facilitated by Jay Ziv, Michael T. Fay, Brian C. de la Fé, John K. Crotty, and David Duckworth from Avison Young.

The development site has a buildable square footage (BSF) of 1,270,700 and a price per buildable square footage (PPBSF) of $18. The total square footage (SF) of the site is 122,186, with a price per square footage (PPSF) of $188.

Players

John Crotty
Avison Young
John Crotty
51 deals$1.5B volume(305) 345-9567
BROKER
Michael Fay
Avison Young
Michael Fay
49 deals$1.4B volume(305) 447-7842
BROKER
David Duckworth
Avison Young
David Duckworth
44 deals$1.2B volume
BROKER
Brian de la Fé
Avison Young
Brian de la Fé
46 deals$1.3B volume(305) 476-7134
BROKER
Jay Ziv
Avison Young
Jay Ziv
5 deals$109M volume
BROKER
Richard Paul Richman
Richard Paul Richman
6 deals$312.7M volume
BUYER

Details

SOLD
IMAGE: Jay Ziv, Brian C. de la Fé, David Duckworth, John K. Crotty & Michael T. Fay DATE: 09/15/2022 ADDRESS: 690 NW 13th St MARKET: Miami ASSET TYPE: Development Site BUYER: Richard Paul Richman - The Richman Group SELLER: Kelly Kite BROKERS: Jay Ziv, Michael T. Fay (@MichaeltFay), Brian C. de la Fé (@BCdelaFe), John K. Crotty (@JohnkCrotty) & David Duckworth - Avison Young (@Avison_Young_Global) SALE PRICE: $23,000,000 BSF: 1,270,700 ~ PPBSF: $18 SF: 122,186 ~ PPSF: $188

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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