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

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SOLD
$5,350,000

Florida

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5,481 SF
Sold 04/09/2021
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Property Image
SOLD

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

2955 Northeast 7th Avenue

See Similar Deals
5,481 SF
Sold 04/09/2021
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Summary

FLORIDA
Price Per Square Foot:$976
Total Square Footage:5,481 SF
Transaction Type:Sale

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 (Mike) Haenel
7 deals$110.6M volume
BROKER

BUYER

Details

SOLD
IMAGE: Arden Karson DATE: 04/09/2021 ADDRESS: 2955 NE 7th St. MARKET: Edgewater, Miami ASSET TYPE: Office Condo BUYER: XBTO Group SELLER: Two Roads Development BUYER'S REP: Dorota Baginska SELLER'S REP: Arden Karson @KarsonCo ASKING PRICE: $6,000,000 SALE PRICE: $5,350,000 SF: 5,481 PPSF: $976

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Deal Type
Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,007.43
Cash-on-Cash Return-1.27%
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