Build 109 Units in Little Havana near NW 12th Ave & Flagler St. Minutes to UM Hospitals, Brickell/Downtown Miami, Gables, Grove, & Miami International Airport. Proposed 8 stories structure, w/ potential for 12 if desired. Seller may hold to permits for $6.25 mm. Seller may be willing to hold for a longer closing depending upon negotiated terms. Seller may be willing to JV at the asking price, with $4.0 mm released at JV-document execution, and with the balance payment to full asking price plus an additional acceptable negotiated returns and payout triggers negotiated Seller’s Note Offer on Development Site above. Seller willing to take $2,250,000 at closing on a sales price of $6,250,000 and offer Seller’s Note. A 4,000,000 loan (note) at 4.5% annual interest with a balloon payment due 18 months after closing. Assemblage of 4-lots fronts both SW 1st & 2nd Streets. Proposed development details: 75,105 leasable SF/ 162,770 buildable SF proposed. Develop under an SB-102/328/Live Local program. Development may benefit from property tax reductions for up to 75% of annual property taxes; as well as up to 100% of credit for impact fees under amendments to City of Miami Chapter 33 Code. Covered Land Play generating $17,000/month rents. See attached updated OM for more information.