SOLDLand
Harry Macklowe's Macklowe Properties Acquires 1.7 Acres Of Land In Miami For $31.9M
Miami, Florida, United States
$31,900,000
Building Size
—
Asset Type
Land
Closing
Apr 20, 2022
AI
The property involved in the transaction is a land in Miami, covering an area of approximately 1.7 acres. The sale took place on April 20, 2022.
Summary of transation details
- Property Type: Land
- Transaction Amount: $31,900,000
- Market: Miami
- Seller: Rilea Group & Euroamerican Group
- Buyer: Macklowe Properties - Harry Macklowe
- Seller's Representative: Charles Penan - Aztec Group
Charles Penan from Aztec Group represented the sellers, Rilea Group & Euroamerican Group, in the transaction. The buyer, Macklowe Properties, was represented by Harry Macklowe.
Players
Miami Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93