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740 Northwest 71st Street

Max Tonconogy Acquires Industrial Land From Diego Navia In Miami For $3.7M
SOLDIndustrial

Max Tonconogy Acquires Industrial Land From Diego Navia In Miami For $3.7M

740 Northwest 71st Street

$3,700,000

Building Size

Asset Type

Industrial

Closing

Jul 15, 2024

AI

The property involved in this transaction is an industrial land located at 740 NW 71st Street in the Miami market. The sale was finalized at a price of $3,700,000, with a building square footage of 72,726, resulting in a price per building square foot of $51.

Summary of transation details:

  • Property Type: Industrial Land
  • Transaction Amount: $3,700,000
  • Address: 740 NW 71st Street
  • Market: Miami
  • Building Square Footage: 72,726
  • Price per Building Square Foot: $51
  • Buyer: Max Tonconogy
  • Seller: Diego Navia
  • Buyer's Representative: Mateo Romero & Alfredo Riascos - Gridline Properties
  • Seller's Representative: Pablo Rodriguez - Gridline Properties

This transaction involved key representatives from Gridline Properties, with Mateo Romero and Alfredo Riascos representing the buyer, Max Tonconogy, and Pablo Rodriguez representing the seller, Diego Navia.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Miami 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

4.29%

Cash-on-Cash

-1.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93