Jeff Franklin Acquires Development Site In Miami Beach From El Dorado Furniture For $35.5M
Miami Beach, FL, USA
$35,500,000
$815/SF
Building Size
43,560 SF
Asset Type
Development Site
Closing
Jun 25, 2020
AI
A development site in Miami Beach has been sold for $35,500,000. The buyer is Jeff Franklin, and the seller is El Dorado Furniture. The transaction took place on June 25, 2021. The property spans across 1 acre and is located in the Miami Beach market. The deal was facilitated by David Nguah of Douglas Elliman, who represented Jeff Franklin.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $35,500,000
- Date: 06/25/2021
- Market: Miami Beach
- Buyer: Jeff Franklin
- Seller: El Dorado Furniture
- Broker: David Nguah - Douglas Elliman
- Acre: 1
The sale of this development site in Miami Beach marks an important transaction in the local real estate market. The involvement of Jeff Franklin as the buyer and El Dorado Furniture as the seller adds significance to the deal. David Nguah, representing Douglas Elliman, played a crucial role as the broker in facilitating the transaction.
Players
Miami Beach 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93