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235 18th Street

Agave On The Beach Leases Hotel From Eli Dadon & Meir Elfassy In Miami Beach
LEASEDHotel

Agave On The Beach Leases Hotel From Eli Dadon & Meir Elfassy In Miami Beach

235 18th Street

$61

$61/SF

Building Size

4,779 SF

Asset Type

Hotel

Closing

Sep 6, 2024

AI

This transaction involves a hotel asset located at 235 18th Street in the Miami Beach market. The asking rent for the property is set at $61 per square foot, with a total area of 4,779 square feet. The lease term agreed upon is 10 years, under a NNN Lease structure.

Summary of transaction details:

The deal features Eli Dadon and Meir Elfassy representing the landlord, South Beach 18. The tenant, Agave on the Beach, is entering this long-term lease for the specified hotel property. Brokers Ariel Dadon and Orine Dadon from Adar Investments & Management facilitated this transaction, marking another success in hotel leasing in the Miami Beach area. NOTE: Adar Investments & Management LLC has secured another hotel lease in a prime Miami Beach location. For exclusive off-market opportunities in hotel leasing and sales, reach out to Orine Dadon and Ariel Dadon today.

Players

Orine Dadon

Adar Investments & Management

Broker

$27M

vol

3 deals

Broker

Miami Beach Hotel Market Snapshot

Boundary boundary · Hotel · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

260049.18%

Cash-on-Cash

-74322.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93