XBTO Group Acquires Office Condo In Edgewater, Miami For $5.35M
2955 Northeast 7th Avenue
$5,350,000
$976/SF
Building Size
5,481 SF
Asset Type
—
Closing
Apr 8, 2021
AI
An office condo located at 2955 NE 7th St. in Edgewater, Miami has been sold in a recent transaction. The transaction took place on 04/09/2021. The property, spanning 5,481 square feet, was sold for a price of $5,350,000, resulting in a price per square foot of $976. The sale was facilitated by Arden Karson from KarsonCo, who represented the seller, Two Roads Development. XBTO Group was the buyer, with their representative being Dorota Baginska.
Summary of transation details
- Property Type: Office Condo
- Transaction Amount: $5,350,000
- Date: 04/09/2021
- Address: 2955 NE 7th St.
- Market: Edgewater, Miami
- Square Footage: 5,481
- Price per Square Foot: $976
- Seller: Two Roads Development
- Seller's Representative: Arden Karson @KarsonCo
- Buyer: XBTO Group
- Buyer's Representative: Dorota Baginska
Arden Karson from KarsonCo played a crucial role in representing the seller, Two Roads Development, in the transaction. Dorota Baginska represented the buyer, XBTO Group. The deal between the parties involved was successfully closed, resulting in the sale of the office condo at 2955 NE 7th St. in Edgewater, Miami.
Players
Miami 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
2.97%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93