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

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SOLD
$3,700,000

Florida

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Development Site201,650 SF
Sold 11/22/2024
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SOLD

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

See Similar Deals
Development Site201,650 SF
Sold 11/22/2024
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Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$18
Total Square Footage:201,650 SF
Transaction Type:Sale

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
1 deal$3.7M volume(786) 390-1338
BROKER

Details

SOLD
IMAGE: Horacio Ferrando, Claudio Forgione & Kenneth Fantes DATE: 11/22/2024 ADDRESS: 260, 280, 290 Northwest 79th Street, 7835 Northwest 3rd Avenue & 7816 Northwest 2nd Court MARKET: Miami ASSET TYPE: Development Site BUYER: Horacio Ferrando (@FerrandoProperties), Claudio Forgione (@Claudioforgione29) & Kenneth Fantes (@BayHeightsCap) SELLER: Shawn Snyder BUYER'S REP: Horacio Ferrando (@Horacio.AvenewRealty) - Avenew Realty (@AvenewRealty_Corp) SALE PRICE: $3,700,000 SF: 40,330 ~ PPSF: $91

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$197,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,145.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,539.89
Annual Debt Service$210,478.65