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3800 Northeast 168th Street

Juan Carlos Lago & Sebastien Scemla Of Omega Real Estate Management Group Acquire Development Site For $9.85M
SOLDDevelopment Site

Juan Carlos Lago & Sebastien Scemla Of Omega Real Estate Management Group Acquire Development Site For $9.85M

3800 Northeast 168th Street

$9,850,000

$213/SF

Building Size

46,200 SF

Asset Type

Development Site

Closing

Jul 24, 2024

AI

The property involved in this transaction is a development site located at 3800 Northeast 168th Street in North Miami Beach. The asset's sale price was $9,850,000, featuring a total square footage of 46,200, which translates to a price per square foot of $213.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $9,850,000
  • Address: 3800 Northeast 168th Street
  • Market: North Miami Beach
  • Square Footage: 46,200
  • Price per Square Foot: $213
  • Buyer: Juan Carlos Lago & Sebastien Scemla - Omega Real Estate Management Group
  • Seller: Michael Mallory & Joshua Garth
  • Buyer's Representatives: Carissa Barzana & Zandra Mederos - Aterra Real Estate Partners
  • Seller's Representative: Rainier Sebastian Leon

This transaction was facilitated by key individuals representing both parties. The buyer was represented by Carissa Barzana and Zandra Mederos from Aterra Real Estate Partners, while the seller was represented by Rainier Sebastian Leon. This partnership highlights the collaborative effort involved in executing the deal.

Players

Carissa Barzana

Aterra Real Estate Partners

Broker

$25.2M

vol

4 deals

Broker

North Miami Beach 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

1.61%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93