Howard Roark Acquires Development Site At 2641 Abaco Avenue From Andres Siso For $2.7M
2641 Abaco Avenue
$2,700,000
$373/SF
Building Size
7,225 SF
Asset Type
Development Site
Closing
Aug 6, 2024
AI
The transaction involves a development site located at 2641 Abaco Avenue in the Miami market. The sale price for the property amounted to $2,700,000, with a total square footage of 7,225 and a price per square foot of $373.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $2,700,000
- Address: 2641 Abaco Avenue
- Market: Miami
- Square Footage: 7,225
- Price Per Square Foot: $373
- Buyer: Howard Roark
- Seller: Andres Siso
- Buyer's Representative: Alfredo Riascos - Gridline Properties
- Seller's Representative: Alejandro Salazar - Ubiica
Key individuals involved in this transaction include the buyer Howard Roark and seller Andres Siso, with Alfredo Riascos representing the buyer and Alejandro Salazar representing the seller. Each broker played a crucial role in facilitating the deal between the parties involved.
Players
Miami 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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93