Swire Properties Sells Development Site At 750 Claughton Island Drive For $6.7M
750 Claughton Island Drive
$6,700,000
$2,186/SF
Building Size
3,064 SF
Asset Type
Development Site
Closing
Jan 24, 2030
AI
The development site located at 750 Claughton Island Drive in Miami was sold for $6,700,000. The property encompasses 3,064 square feet, resulting in a price per square foot of $2,186. The Mandarin Oriental Residences associated with this site are set to be delivered in 2030.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,700,000
- Square Footage: 3,064
- Price per Square Foot: $2,186
- Seller: Swire Properties
- Broker: Mustafa Seker - Fortune International Group
The transaction was facilitated by Mustafa Seker, representing Fortune International Group, who played a key role in connecting the buyer and seller for this development opportunity.
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
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93