Horacio Ferrando, Claudio Forgione & Kenneth Fantes Acquire Development Site In Miami For $3.7M
280 Northwest 79th Street, 260 Northwest 79th Street, 290 Northwest 79th Street, 7835 Northwest 3rd Avenue & 7816 Northwest 2nd Court
$3,700,000
$18/SF
Building Size
201,650 SF
Asset Type
Development Site
Closing
Nov 22, 2024
AI
The property involved in this transaction is a development site located at 260, 280, 290 Northwest 79th Street, 7835 Northwest 3rd Avenue & 7816 Northwest 2nd Court in the Miami market. The sale price for the property was $3,700,000, with a total square footage of 40,330, resulting in a price per square foot of $91.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,700,000
- Square Footage: 40,330
- Price per Square Foot: $91
- Address: 260, 280, 290 Northwest 79th Street, 7835 Northwest 3rd Avenue & 7816 Northwest 2nd Court
- Market: Miami
- Buyer: Horacio Ferrando, Claudio Forgione & Kenneth Fantes
- Seller: Shawn Snyder
- Buyer's Representative: Horacio Ferrando - Avenew Realty
This transaction involves key individuals including Horacio Ferrando, Claudio Forgione, and Kenneth Fantes as the buyers, with Shawn Snyder acting as the seller. The buyer's representative for this deal is Horacio Ferrando from Avenew Realty, facilitating the transaction on behalf of the buyers.
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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93