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
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