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
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