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300 Biscayne Boulevard

David Merino Acquires Mixed-Use Asset At 300 Biscayne Blvd From Waldorf Astoria For $4.88M
SOLDCondo

David Merino Acquires Mixed-Use Asset At 300 Biscayne Blvd From Waldorf Astoria For $4.88M

300 Biscayne Boulevard

$4,880,000

$1,016/SF

Building Size

4,800 SF

Asset Type

Condo

Closing

Sep 26, 2022

AI

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.

Players

David Merino

Buyer

$14.5M

vol

3 deals

Buyer

Miami Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.25%

Cash-on-Cash

-0.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93