PPG Development Acquires School In North Miami Beach For $31.1M
1750 Northeast 167th Street
$31,100,000
$66,738/SF
Building Size
466 SF
Asset Type
Other
Closing
Aug 6, 2022
About this deal
AI
An educational facility located at 1750 NE 167th Street in North Miami Beach has been sold for a price of $31,100,000. The property, with a total area of 466,103 square feet, was purchased by PPG Development from Dezer Development, represented by Gil Dezer.
Summary of transaction details
- Property Type: School
- Transaction Amount: $31,100,000
- Address: 1750 NE 167th Street, North Miami Beach
- Market: North Miami Beach
- Buyer: PPG Development
- Seller: Dezer Development - Gil Dezer
- Square Footage: 466,103
This transaction marks the successful acquisition of the educational facility by PPG Development. It represents a significant investment opportunity in the North Miami Beach area. The deal was facilitated by the seller, Dezer Development, with Gil Dezer serving as their representative.
On the Map
$31,100,000
$66,738/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93