Sonder Leases Hotel At 300 21st St. From Jordache - Nakash Family With Brokers Robert Chattah & Aziz Kabbaj - Reshape Advisory
300 21st Street
$95
$95/SF
Building Size
20,000 SF
Asset Type
Hotel
Closing
Dec 18, 2019
AI
The Abbey Hotel, located at 300 21st St., has been leased out to Sonder. The hotel, with approximately 20,000 square feet of space, has become the new venture for Sonder, with an asking rent of $95 per square foot.
Summary of transaction details:
- Property Type: Hotel
- Date: 12/18/2019
- Tenant: Sonder
- Landlord: Jordache - Nakash Family
- Brokers: Robert Chattah & Aziz Kabbaj - Reshape Advisory
- Asking Rent: $95 per square foot
The leasing deal for The Abbey Hotel was facilitated by Robert Chattah and Aziz Kabbaj of Reshape Advisory, representing the parties involved. This venture marks another milestone for Sonder and showcases their dedication to providing unique hospitality experiences.
Players
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
166978.95%
Cash-on-Cash
-47723.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93