Ismel Vera Buys Development Site In Miami From Walter Besser For $3.6M
SW 207th Ave & SW 220th St
$3,600,000
Building Size
—
Asset Type
Development Site
Closing
Jun 20, 2024
AI
The Development Site located at Southwest 207th Avenue & Southwest 220th Street in Miami has been sold for $3,600,000. The property spans 1,742,400 square feet with a price per square foot of $2.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,600,000
- Address: Southwest 207th Avenue & Southwest 220th Street
- Market: Miami
- Buyer: Ismel Vera
- Seller: Walter Besser
- Brokers: Mendel Fellig & Josh Kaufman - Compass
- BSF: 1,742,400
- PPBSF: $2
The deal was facilitated by Mendel Fellig and Josh Kaufman from Compass, representing the buyer and seller, respectively. Ismel Vera acquired the property from Walter Besser, marking a significant transaction in the Miami real estate market.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93