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Bowlero Corporation Acquires Surfside Condo In $21M Deal

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SOLD
$21,000,000

Florida

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Condo4,200 SF
Sold 03/08/2023
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Property Image
SOLD

Bowlero Corporation Acquires Surfside Condo In $21M Deal

9001 Collins Avenue

See Similar Deals
Condo4,200 SF
Sold 03/08/2023
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Summary

FLORIDA
Asset Type:Condo
Price Per Square Foot:$5,000
Total Square Footage:4,200 SF
Transaction Type:Sale

A condominium unit located at 9001 Collins Avenue Unit 1005 in Surfside has been sold for a transaction amount of $21,000,000. The property, measuring approximately 4,200 square feet, was acquired by Thomas F. Shannon, representing Bowlero Corporation. The seller, Sandeep Mathrani, represented WeWork in the transaction. Anastasia Wachter from Douglas Elliman acted as the buyer's representative, while Stacy Robins from The Stacy Robins Companies represented the seller.

Summary of transaction details:

  • Property Type: Condo
  • Transaction Amount: $21,000,000
  • Address: 9001 Collins Avenue Unit 1005, Surfside
  • Market: Surfside
  • Buyer: Thomas F. Shannon - Bowlero Corporation
  • Seller: Sandeep Mathrani - WeWork
  • Buyer's Representative: Anastasia Wachter - Douglas Elliman
  • Seller's Representative: Stacy Robins - The Stacy Robins Companies
  • Square Footage: 4,200
  • Price Per Square Foot: $5,000

The buyer, Thomas F. Shannon, is representing Bowlero Corporation, while the seller, Sandeep Mathrani, is represented by WeWork. Anastasia Wachter, from Douglas Elliman, served as the buyer's representative, and Stacy Robins, from The Stacy Robins Companies, acted as the seller's representative.

Players

Stacy Robins
11 deals$145.8M volume(305) 710-6511
BROKER

Anastasia Wachter
Douglas Elliman
1 deal$21M volume(305) 728-2420
BROKER

WeWork
SELLER

Details

SOLD
IMAGE: Thomas F. Shannon & Sandeep Mathrani DATE: 03/08/2023 ADDRESS: 9001 Collins Avenue Unit 1005 MARKET: Surfside ASSET TYPE: Condo BUYER: Thomas F. Shannon - Bowlero Corporation SELLER: Sandeep Mathrani (@SMathrani29)- WeWork (@WeWork) BUYER'S REP: Anastasia Wachter (@AnastasiaWachter) - Douglas Elliman (@DouglasElliman) (@DouglasEllimanFlorida) SELLER'S REP: Stacy Robins (@StacyRobinsCompanies) - The Stacy Robins Companies SALE PRICE: $21,000,000 SF: 4,200 ~ PPSF: $5,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56