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16150 NE 17th Ave

Colliers Acquires Special Purpose Property In North Miami Beach For $5.25M
SOLD

Colliers Acquires Special Purpose Property In North Miami Beach For $5.25M

16150 NE 17th Ave

$5,250,000

$287/SF

Building Size

18,255 SF

Asset Type

Closing

Jun 12, 2022

AI

The Pomerantz Family has sold a special purpose property located at 16150 NE 17th Ave in North Miami Beach. The transaction, which took place on 06/13/2022, was facilitated by Jon Kotler from Keller Williams Elite Properties representing the seller and Achikam Yogev from Colliers representing the buyer. The property spans across 18,255 square feet and was sold for a total price of $5,250,000, resulting in a price per square foot of $288.

Summary of transaction details:

  • Property Type: Special Purpose
  • Transaction Amount: $5,250,000
  • Address: 16150 NE 17th Ave
  • Market: North Miami Beach
  • Seller: The Pomerantz Family
  • Buyer's Rep: Achikam Yogev - Colliers
  • Seller's Rep: Jon Kotler - Keller Williams Elite Properties

Note from @Jon.K: In addition to the main property, this transaction also included the sale of 1681-1691 NE 161 ST, two vacant lots totaling 18,150 square feet.

Players

Jon Kotler

Keller Williams Realty

Broker

$90M

vol

15 deals

Broker

Pomerantz Family

Seller

$71M

vol

5 deals

Seller

North Miami Beach CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.02%

Cash-on-Cash

-0.86%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93