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.
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
13.06%
Cash-on-Cash
-3.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93