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280 Northwest 79th Street

Horacio Ferrando, Claudio Forgione & Kenneth Fantes Acquire Development Site In Miami For $3.7M
SOLDDevelopment Site

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

Horacio Ferrando

Avenew Realty

Broker

$3.7M

vol

1 deal

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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93