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8900 Bay Drive

Mark Halpern Sells Development Site At 8900 Bay Drive Surfside For $14.3M
SOLDDevelopment Site

Mark Halpern Sells Development Site At 8900 Bay Drive Surfside For $14.3M

8900 Bay Drive

$14,300,000

$608/SF

Building Size

23,485 SF

Asset Type

Development Site

Closing

Apr 16, 2026

AI

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.

Players

Zalmy Shapiro

The Brokerage South Florida Real Estate

Broker

$288.3M

vol

33 deals

Broker

Surfside 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

1.11%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93