Sweet Paris Crêperie Leases 2,300 SF Retail Space At Miami Worldcenter
851 Northeast 1st Avenue
Building Size
2,450 SF
Asset Type
Condo
Closing
Nov 7, 2023
About this deal
AI
Texas-based retailer Sweet Paris Crêperie is set to join Miami Worldcenter, a 27-acre mixed-use development in Downtown Miami. The retailer will occupy a 2,300 square foot retail space within the development. Miami Worldcenter is already 90% leased with notable tenants such as Sephora, Lucid Motors, and Lululemon. The development is also attracting high-profile firms for residential tower development.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Square Footage: 2,300
- Address: 851 Northeast 1st Avenue, Miami
The landlords of the property are Art Falcone, Nitin Motwani, CIM Group, and Shaul Kuba. They have successfully secured Sweet Paris Crêperie as a tenant for their retail space. Allison Chavez represents Sweet Paris Crêperie in the lease deal.
Players
Miami Condo Market Snapshot
Boundary boundary · Condo · Lease transactions
Loading comparables…
Deal FAQ
Browse Miami condo leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93