Harry Macklowe's Macklowe Properties Acquires 1.7 Acres Of Land In Miami For $31.9M
SOLD
$31,900,000
Florida
See Similar DealsLand
Sold 04/20/2022
SOLD
Harry Macklowe's Macklowe Properties Acquires 1.7 Acres Of Land In Miami For $31.9M
Miami, Florida, United States
See Similar DealsLand
Sold 04/20/2022
Summary
FLORIDA
Asset Type:Land
Transaction Type:Sale
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
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,701,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,333.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,222.27
Annual Debt Service$1,814,667.30
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