Alan Chocron Of Compass Represents Buyer In $16.6M Development Site Sale In Miami Beach
SOLD
$16,608,194
Florida
See Similar DealsDevelopment Site
Sold 10/01/2024
SOLD
Alan Chocron Of Compass Represents Buyer In $16.6M Development Site Sale In Miami Beach
1401 22nd Street
See Similar DealsDevelopment Site
Sold 10/01/2024
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
The asset involved in this transaction is a development site located at 1401 22nd Street in Miami Beach. The sale was executed for a price of $16,608,194, highlighting its market value and potential for future development.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $16,608,194
- Address: 1401 22nd Street
- Market: Miami Beach
- Buyer's Representative: Alan Chocron - Compass
- Seller's Representative: Daniel Hertzberg - Coldwell Banker
The transaction involved key representatives from two notable agencies. Alan Chocron, representing the buyer, is affiliated with Compass, while the seller was represented by Daniel Hertzberg from Coldwell Banker. Their involvement in this deal underscores the professional nature of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$885,770.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$59,005.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$78,731.31
Annual Debt Service$944,775.75
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