Updated Oct 29, 2024
B-Group Acquires Development Site On Biscayne Blvd In Miami For $23M
7880 Biscayne Boulevard
$23,000,000
$154/SF
Building Size
148,450 SF
Asset Type
Development Site
Closing
May 15, 2023
About this deal
AI
A development site located at 7880 Biscayne Blvd in Miami has been sold. The property has a total square footage of 148,450 square feet. The sale price for the site was $23,000,000, resulting in a price per square foot of $155.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $23,000,000
- Address: 7880 Biscayne Blvd
- Market: Miami
The buyer of the development site was B-Group, represented by Sebastian Barbagallo. The seller was Leo Wu. The brokers involved in the transaction were Brian de la Fe, David Duckworth, Michael Fay, and John Crotty from Avison Young, as well as Fabio Faerman and Sebastian Faerman from FA Commercial.
On the Map
$23,000,000
$154/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93