David Simkins Of Lion Associates Sells Land In Morningside Miami For $24.1M
5725 North Bayshore Drive
$24,100,000
$640/SF
Building Size
37,629 SF
Asset Type
Land
Closing
Sep 24, 2026
About this deal
AI
The property involved in the transaction is a land asset located at 5725 North Bayshore Drive, Miami, with a market value of $24,100,000. The total square footage of the property is 37,629, which translates to a price per square foot of $640.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $24,100,000
- Address: 5725 North Bayshore Drive
- Market: Miami
- Square Footage: 37,629
- Price per Square Foot: $640
- Seller: David Simkins - Lion Associates
- Buyer's Representatives: Maurice Boschetti - Compass, FL; Jackie Diop - One Sotheby’s International Realty
- Sale Date: 09/24/2026
This transaction was conducted as an off-market deal and represents a record-breaking sale in the Morningside area. The property previously sold for $16,000,000 last year, reflecting an increase of $8,100,000 within 12 months. The buyers intend to build their dream home on this site.
On the Map
$24,100,000
$640/SF
Land
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93