William Ticona Acquires Development Site In Miami From Francisco Silva For $15.1M
SOLD
$15,100,000
Florida
See Similar DealsDevelopment Site36,000 SF
Sold 10/29/2024
SOLD
William Ticona Acquires Development Site In Miami From Francisco Silva For $15.1M
436 NE 35 St
See Similar DealsDevelopment Site36,000 SF
Sold 10/29/2024
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$419
Total Square Footage:36,000 SF
Transaction Type:Sale
The property involved in this transaction is a development site located at 436 Northeast 35th Street in Miami. The sale price was $15,100,000. This development site encompasses a total square footage of 36,000, with a building square footage (BSF) of 432,000, resulting in a price per BSF of $34 and a price per square foot (PPSF) of $419.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $15,100,000
- Buyer: William Ticona
- Seller: Francisco Silva
- Buyer's Representative: Ignacio Gonzalez-Arias - One Sotheby's International Realty
- Seller's Representative: Ryan Shaw - Marcus & Millichap
The transaction was completed on October 29, 2024. Ignacio Gonzalez-Arias represented the buyer, William Ticona, while Ryan Shaw represented the seller, Francisco Silva, during this property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$805,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,647.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,581.70
Annual Debt Service$858,980.44
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