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Southwest 152nd Avenue, Mia...

Berkowitz Development Group Acquires 19-Acre Development Site In Homestead For $6.7M
SOLDDevelopment Site

Berkowitz Development Group Acquires 19-Acre Development Site In Homestead For $6.7M

Southwest 152nd Avenue, Miami, Florida 33193, United States

$6,700,000

Building Size

Asset Type

Development Site

Closing

Jun 1, 2023

AI

The sale of a development site in Homestead has been completed. The property, located between Southwest 152nd Avenue and Park of Commerce Boulevard, south of Southwest 328th Street, spans approximately 19 acres. The transaction took place on January 6, 2023.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $6,700,000
  • Market: Homestead
  • Address: Between Southwest 152nd Avenue & Park of Commerce Boulevard, South of Southwest 328th Street
  • Buyer: Berkowitz Development Group - Michael Berkowitz
  • Seller: Clifford Lincoln

Michael Berkowitz, representing Berkowitz Development Group, acted as the buyer in the transaction. The seller was Clifford Lincoln. No additional information regarding the deal or the individuals involved was provided.

Players

BG
Berkowitz Development GroupBuyer

Miami Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.37%

Cash-on-Cash

-0.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93