Max Tonconogy Sells Development Site At 740 NW 71st St Miami For $5.5M
740 Northeast 71st Street
$5,500,000
$75/SF
Building Size
72,726 SF
Asset Type
Development Site
Closing
Jan 15, 2026
AI
This development site located at 740 NW 71st St in Miami was sold for $5,500,000. The property spans 72,726 square feet, translating to a price per square foot of $75.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,500,000
- Address: 740 NW 71st St
- Market: Miami
- Seller: Max Tonconogy
- Brokers: Mateo Romero & Alfredo Riascos - Gridline Properties
Mateo Romero and Alfredo Riascos represented the seller, Max Tonconogy, in this transaction, facilitating the sale of the property in Miami's development market.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93