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940 Southwest 8th Street

David Herskowitz Acquires Little Havana Development Site For $5.3M, Represented By Arthur Porosoff & Javier Ubeda
SOLDDevelopment Site

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

Arthur David Porosoff

POROSOFF

Broker

$180.7M

vol

25 deals

Broker

David Herskowitz

Buyer

$8M

vol

2 deals

Buyer

Bill Fuller

Seller

$89.9M

vol

9 deals

Seller

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