David Merino Acquires Mixed-Use Asset At 300 Biscayne Blvd From Waldorf Astoria For $4.88M
SOLD
$4,880,000
Florida
See Similar DealsCondo4,800 SF
Sold 09/26/2022
SOLD
David Merino Acquires Mixed-Use Asset At 300 Biscayne Blvd From Waldorf Astoria For $4.88M
300 Biscayne Boulevard
See Similar DealsCondo4,800 SF
Sold 09/26/2022
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$1,016
Total Square Footage:4,800 SF
Transaction Type:Sale
The asset involved in this transaction is a mixed-use property located at 300 Biscayne Blvd in Miami. The sale was finalized for an amount of $4,880,000. The total square footage of the property is 2,615, resulting in a price per square foot of $1,866.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,880,000
- Square Footage: 2,615
- Price per Square Foot: $1,866
- Buyer: David Merino
- Seller: Waldorf Astoria - PMG Development
- Broker: Steven Kupchan - Compass Florida
The individuals involved in this transaction include David Merino as the buyer and Waldorf Astoria - PMG Development as the seller. Steven Kupchan from Compass Florida represented the buyer in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$260,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,337.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,133.69
Annual Debt Service$277,604.28
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