Noam Ziv Of El-Ad National Properties Acquires Development Site In North Bay Village For $19.09M

The property involved in the transaction is a development site located at 7922 East Drive in North Bay Village. The asset encompasses approximately 33,600 square feet and was sold for a price of $19,090,000, translating to a price per square foot of $568.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $19,090,000
• Buyer: Noam Ziv - El-Ad National Properties
• Seller: Luis Navas - 7922 East Dr LLC
• Square Footage: 33,600
• Price per Square Foot: $568
• Assumed Mortgage: $4,500,000

This transaction was facilitated by Noam Ziv, representing El-Ad National Properties as the buyer. The seller, Luis Navas, managed the LLC that sold the property. This deal marks El-Ad National Properties' second acquisition in the North Bay Village area, following the seller's earlier success in securing 37 residential units through a Transfer of Development Rights (TDR) approved earlier in the year.