David Herskowitz Acquires Little Havana Development Site For $5.3M, Represented By Arthur Porosoff & Javier Ubeda
SOLD
$5,300,000
Florida
See Similar DealsDevelopment Site20,500 SF
Sold 07/15/2022
SOLD
David Herskowitz Acquires Little Havana Development Site For $5.3M, Represented By Arthur Porosoff & Javier Ubeda
940 Southwest 8th Street
See Similar DealsDevelopment Site20,500 SF
Sold 07/15/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$258
Total Square Footage:20,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$282,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,829.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,124.70
Annual Debt Service$301,496.45
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