Mark Halpern Sells Development Site At 8900 Bay Drive Surfside For $14.3M
SOLD
Florida
See Similar DealsDevelopment Site23,485 SF
Sold 04/17/2026
SOLD
Mark Halpern Sells Development Site At 8900 Bay Drive Surfside For $14.3M
8900 Bay Drive
See Similar DealsDevelopment Site23,485 SF
Sold 04/17/2026
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$608
Total Square Footage:23,485 SF
Transaction Type:Sale
The property involved in the transaction is a development site located at 8900 Bay Drive in Surfside. It was sold for a price of $14,300,000, covering an area of 23,485 square feet, equating to a price per square foot of $608.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $14,300,000
- Address: 8900 Bay Drive
- Market: Surfside
- Square Footage: 23,485
- Price per Square Foot: $608
- Seller: Mark Halpern
- Broker Representatives: Joel Lusky & Zalmy Shapiro - The Brokerage South Florida Real Estate
This transaction was facilitated by Joel Lusky and Zalmy Shapiro, who represent The Brokerage South Florida Real Estate. They played a key role in the negotiation and closing processes associated with this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$762,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,804.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,789.30
Annual Debt Service$813,471.55
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