Alan Chocron Of Compass Represents Buyer In $16.6M Development Site Sale In Miami Beach
1401 22nd Street
$16,608,194
Building Size
—
Asset Type
Development Site
Closing
Oct 1, 2024
AI
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.
Players
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93