Continuum Co. Acquires Development Site In Bay Harbor Islands From Taubco
SOLD
$29,500,000
Florida
See Similar DealsDevelopment Site17,382 SF
Sold
SOLD
Continuum Co. Acquires Development Site In Bay Harbor Islands From Taubco
9201 East Bay Harbor Drive, Bay Harbor Islands, FL 33154
See Similar DealsDevelopment Site17,382 SF
Sold
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$1697
Total Square Footage:17382 SF
Transaction Type:Sale
A development site located at 9201 E Bay Harbor Drive in Bay Harbor Islands has been sold for a price of $29,500,000. The property, which was listed by Taubco, was purchased by Continuum Co., represented by Ian Bruce Eichner. The sale took place on May 17, 2021.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,500,000
- Address: 9201 E Bay Harbor Drive, Bay Harbor Islands
- Market: Bay Harbor Islands
The buyer, Continuum Co., was represented by Ian Bruce Eichner. The seller, Taubco, listed the property for sale. The deal was facilitated by broker Philip Gutman. The development site offers 225,000 square feet of buildable space, with a price per buildable square foot (PPBSF) of $131.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,573,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$104,807.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$139,845.05
Annual Debt Service$1,678,140.60
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