27 Capital And HDG Group Acquires Development Site On Upper East Side, Miami For $1.215M

7860 Northeast Bayshore Court, Miami, Florida 33138, United States

$1,215,000

$88/SF

Building Size

13,800 SF

Asset Type

Development Site

Closing

May 5, 2022

AI

27 Capital and HDG Group have acquired a development site in the Upper East Side of Miami. The property, located at 7860-7880 NE Bayshore Court, is set to be developed into luxury multifamily units. The sale was facilitated by Katalox Investments.

Summary of transation details

Property Type: Development Site
Transaction Amount: $1,215,000
Address: 7860-7880 NE Bayshore Court, Upper East Side, Miami
Market: Upper East Side, Miami
Buyer: 27 Capital - Arash Gohari & Roy Hausmann
Seller: Katalox Investments
BSF (Building Square Footage): 25,000
Price per BSF: $49
SF (Site Square Footage): 13,800
Price per SF: $88
Date of Sale: 05/06/2022

The purchase price for the property equates to approximately $60,000 per unit. This acquisition marks a strategic move by 27 Capital and HDG Group to expand their portfolio in the luxury multifamily sector.

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