David Herskowitz Acquires Little Havana Development Site For $5.3M, Represented By Arthur Porosoff & Javier Ubeda
940 Southwest 8th Street
$5,300,000
$258/SF
Building Size
20,500 SF
Asset Type
Development Site
Closing
Jul 15, 2022
AI
A development site in Little Havana, Miami has been sold for a price of $5,300,000. The property, located at 940-950 SW 8th St, spans across 20,500 square feet, resulting in a price per square foot of $259. The transaction took place on 07/15/2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,300,000
- Address: 940-950 SW 8th St
- Market: Little Havana, Miami
The buyer of the property is David Herskowitz. On the other hand, the sellers include Bill Fuller, Martin Pinilla, Oscar, and Janeth Alvarez. Representing the transaction as brokers are Arthur Porosoff and Javier Ubeda from the Porosoff Group at Compass.
Fuller played a role in the deal as well.
Players
Plainfield 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93