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.
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