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
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