BySabri Group Acquires Retail Condo On Brickell Bay Drive For $8.5M
801 Brickell Bay Drive
$8,500,000
$1,231/SF
Building Size
6,900 SF
Asset Type
Condo
Closing
Feb 28, 2020
About this deal
AI
An $8,500,000 retail condo in Brickell has been sold in a recent transaction. The property, located at 801 Brickell Bay Drive, spans across 6,900 square feet. The sale price equates to a rate of $1,232 per square foot, reflecting the value of this asset in the Brickell market.
Summary of transaction details:
- Property Type: Retail Condo
- Transaction Amount: $8,500,000
- Square Footage: 6,900
- Address: 801 Brickell Bay Drive
- Market: Brickell
The buyer of this property is the BySabri Group, represented by Sabri Celebi. On the other side of the deal, the seller is the Black Lion Investment Group, with Robert Rivani acting as their representative. The transaction was facilitated by Fabio and Sebastian Faerman from FA Commercial, a division of Fortune International Realty.
Players
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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93