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436, 432, 420, 416, 412, & ...

William Ticona Acquires Development Site In Miami From GL Associates For $15.1 Million
SOLDDevelopment Site

William Ticona Acquires Development Site In Miami From GL Associates For $15.1 Million

436, 432, 420, 416, 412, & 404 NE 35TH ST, MIAMI, FL 33137-3923

$15,100,000

$419/SF

Building Size

36,000 SF

Asset Type

Development Site

Closing

Oct 29, 2024

AI

The property involved in this transaction is a development site located at 436, 432, 420, 416, 412, and 404 Northeast 35th Street in Miami. The site encompasses a total area of 36,000 square feet and has a sale price of $15,100,000, equating to a price per square foot of $419.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $15,100,000
  • Address: 436, 432, 420, 416, 412, & 404 Northeast 35th Street
  • Market: Miami
  • Square Footage: 36,000
  • Price Per Square Foot: $419
  • Buyer: William Ticona
  • Seller: GL Associates at 35th Street, led by Nicolas Guzman, Rodrigo Meyer & Francisco Silva
  • Buyer's Representative: Eva Garzon & Irma Albornoz - The Grand Lion Real Estate Group
  • Seller's Representative: Ryan Shaw - Marcus & Millichap

In this transaction, William Ticona acted as the buyer, while GL Associates at 35th Street represented the seller in the deal. The buyer was represented by Eva Garzon and Irma Albornoz from The Grand Lion Real Estate Group, and the seller was represented by Ryan Shaw from Marcus & Millichap.

Players

Eva Garzon

Broker

$313M

vol

27 deals

Broker

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

1.05%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93