Ocean Bank Acquires Retail Condo In Downtown Miami For $5M
151 Southeast First Street
$5,000,000
$1,149/SF
Building Size
4,350 SF
Asset Type
Condo
Closing
Mar 8, 2023
About this deal
AI
A retail condo located at 151 Southeast First Street in Downtown Miami has been sold for $5,000,000. The property spans 4,350 square feet, resulting in a price per square foot of $1,149. The transaction took place on 03/08/2023.
Summary of transation details
- Property Type: Retail Condo
- Transaction Amount: $5,000,000
- Address: 151 Southeast First Street
- Market: Downtown Miami
The buyer of the retail condo was Ocean Bank, while the seller was Shai Ben Ami. Representing both the buyer and seller in this transaction was Shai Ben Ami from Urban Core.
On the Map
$5,000,000
$1,149/SF
Condo
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Players
Forest Lake Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93