Updated Oct 29, 2024
Royal Senior Care Acquires Development Site In Miami-Dade For $7.55M
Southwest 152nd Street, Miami, FL, USA
$7,550,000
$13/SF
Building Size
561,924 SF
Asset Type
Development Site
Closing
Jan 21, 2020
About this deal
AI
A development site located at SW 152nd Street & SW 97th Ave in Miami-Dade has been sold for a total price of $7,550,000. The buyer, RSC Coral Reef PropCo LLC, represented by Avi Bittan from Royal Senior Care, acquired the property from HTA-Miami Dade Land LLC. The transaction was completed on January 22, 2020.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $7,550,000
- Address: SW 152nd Street & SW 97th Ave, Miami-Dade
- Market: Miami-Dade
- Buyer: RSC Coral Reef PropCo LLC, represented by Avi Bittan from Royal Senior Care
- Seller: HTA-Miami Dade Land LLC
Avi Bittan from Royal Senior Care acted as the buyer's representative in this deal. The development site has a building square footage of 561,924, and the price per building square footage was $13.
Players
Palmetto Bay Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.10%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93