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2955 Northeast 7th Avenue

XBTO Group Acquires Office Condo In Edgewater, Miami For $5.35M
SOLD

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

Michael Haenel

Cushman & Wakefield

Broker

$110.6M

vol

7 deals

Broker
XG
XBTO GroupBuyer

Miami CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

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