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9950 East Bay Harbor Drive

Development Site Sold In Bay Harbor Islands For $3.15M Represented By Moshe Kamhaji & Alyssa Brody
SOLDMultiFamily

Development Site Sold In Bay Harbor Islands For $3.15M Represented By Moshe Kamhaji & Alyssa Brody

9950 East Bay Harbor Drive

$3,150,000

$323/SF

Building Size

9,750 SF

Asset Type

MultiFamily

Closing

Jan 3, 2025

AI

The transaction involved a development site located at 9950 East Bay Harbor Drive in the Bay Harbor Islands market, with a sale price of $3,150,000. The site comprises 4 units and spans a total of 9,750 square feet, leading to a price per unit of $787,500 and a price per square foot of $323.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,150,000
  • Units: 4
  • Price Per Unit: $787,500
  • Square Feet: 9,750
  • Price Per Square Foot: $323
  • Seller's Representatives: Moshe Kamhaji & Alyssa Brody - Development Marketing Team
  • Date of Transaction: 01/03/2025
  • Market: Bay Harbor Islands

The sale was facilitated by the Development Marketing Team, represented by Moshe Kamhaji and Alyssa Brody. The property was sold off-market within a period of 50 days, marking a record sale in terms of price per square foot for a development site in Bay Harbor. Interested parties seeking off-market development opportunities in Bay Harbor or elsewhere in Miami can contact Moshe Kamhaji at 646-628-7951 or Alyssa Brody at 347-821-6220.

Players

Alyssa Brody

Powered by DMT

Broker

$54.6M

vol

20 deals

Broker

Bay Harbor Islands MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.04%

Cash-on-Cash

-1.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93