Updated Sep 23, 2026
Jarrett Posner's BMC Investments Acquires Land On North Bay Road In Miami Beach For $10.95M
5860 North Bay Road, Miami Beach, FL, USA
$10,950,000
$365/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Nov 20, 2020
About this deal
AI
Located at 5860 North Bay Road in Miami Beach, this property is a land asset that was recently sold in a transaction. The sale took place on November 21, 2020.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $10,950,000
- Market: Miami Beach
The buyer of this property is Jarrett Posner, representing BMC Investments. On the other hand, the seller is Jennifer Valoppi and Christian de Berdouare, the owners of Chicken Kitchen.
Brett Harris, from Douglas Elliman, acted as the buyer's representative in this deal. Mirce Miki Curkoski and Albert Justo, from ONE Sotheby's Realty, represented the sellers.
The property has a building size of 30,000 square feet and a price per square foot of $365. Notably, this land was previously owned by Pablo Escobar, adding to its historical significance.
On the Map
$10,950,000
$365/SF
Industrial
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Players
Miami Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.45%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93