Updated Oct 28, 2024
MG Developer Acquires Development Site In Hialeah For $8.9M
955 East 25th Street, Hialeah, FL 33013, USA
$8,856,000
$38/SF
Building Size
232,750 SF
Asset Type
Development Site
Closing
Jun 21, 2020
About this deal
AI
The development site located at 955 E 25th Street in Hialeah has been sold for $8,856,000. The property consists of 306 apartment units and 27,500 retail square feet. The sale took place on June 21, 2021.
Summary of transation details
- Property Type: Development Site (306 Apt Units & 27,500 Retail SF)
- Transaction Amount: $8,856,000
- Address: 955 E 25th Street, Hialeah
- Market: Hialeah
The buyer of the property is MG Developer, while the seller is Pointe Companies and JDM Realty Group. David Egozi from JDM Realty Group represented the seller in this transaction.
The property has a building square footage of 232,750, and the price per square foot (PPSF) is $38.
Players
Hialeah 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
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93