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
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
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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