Development Site in Miami Sold for $2.7 Million
A development site in Miami, Florida, was recently sold for $2.7 million by Cedano Realty Advisors and ComReal.
In a recent transaction, a development site located at 631 Northwest 10th Street in Miami, Florida, was sold for 2.7 million. The property, spanning 132,000 square feet, was sold at a price of 20 per square foot. The sale was facilitated by Cedano Realty Advisors and ComReal.
The development site, situated in the heart of Miami, offers immense potential for future development projects. With its prime location and ample space, the property presents an attractive opportunity for investors and developers.
The buyer, whose identity remains undisclosed, recognized the value and potential of the site. The purchase price of $2.7 million reflects the buyer’s confidence in the future growth and development of the Miami real estate market.
On the other hand, the seller, also undisclosed, successfully capitalized on the property’s value appreciation. The sale of the development site at a significant price demonstrates the seller’s astute investment decision and ability to maximize returns.
Cedano Realty Advisors and ComReal played a crucial role in facilitating the transaction. As experienced real estate brokers, they leveraged their extensive networks and market knowledge to connect the buyer and seller. Their expertise in the Miami real estate market ensured a smooth and successful sale.
The sale of the development site at 631 Northwest 10th Street in Miami, Florida, highlights the ongoing demand for prime real estate in the city. With its vibrant economy, favorable climate, and diverse cultural scene, Miami continues to attract investors and developers from around the world. The transaction serves as a testament to the city’s growth and potential.
Looking ahead, the buyer of the development site has the opportunity to capitalize on the property’s potential. With its size and location, the site can accommodate various development projects, such as residential, commercial, or mixed-use. The buyer can leverage the growing demand for real estate in Miami and create a valuable asset.
In conclusion, the recent sale of the development site at 631 Northwest 10th Street in Miami, Florida, for $2.7 million showcases the strong demand for prime real estate in the city. The transaction was facilitated by Cedano Realty Advisors and ComReal, who played a crucial role in connecting the buyer and seller. With its size and location, the property presents an attractive opportunity for future development projects. The sale reflects the buyer’s confidence in the Miami real estate market and the seller’s ability to maximize returns. As Miami continues to thrive, investors and developers will continue to seek out opportunities in this dynamic market.
