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9781 East Bay Harbor Drive

Two Roads Development Sells Bay Harbor Islands Development Site For $22.5M
SOLDDevelopment Site

Two Roads Development Sells Bay Harbor Islands Development Site For $22.5M

9781 East Bay Harbor Drive

$22,500,000

$379/SF

Building Size

59,242 SF

Asset Type

Development Site

Closing

Apr 9, 2022

AI

A development site located at 9781-9927-9955-10301 E Bay Harbor Drive in Bay Harbor Islands has been sold for a total of $22,500,000. The property spans 59,242 square feet with a price per square foot of $380. The sale was facilitated by Simon Banke, Matthew McCormack, Maurice Habif, and Luca Victoria of JLL.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $22,500,000
  • Address: 9781-9927-9955-10301 E Bay Harbor Drive
  • Market: Bay Harbor Islands
  • SF: 59,242
  • PPSF: $380

The development site was sold by Two Roads Development. The brokers involved in the transaction were Simon Banke, Matthew McCormack, Maurice Habif, and Luca Victoria of JLL.

Players

Matthew McCormack

JLL

Broker

$2.8B

vol

31 deals

Broker
Two Roads Development
Two Roads DevelopmentSeller

Bay Harbor Islands 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

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93