The Nakash Family Acquires Miami Beach Hotel For $6M
1350 Collins Avenue, Miami Beach, Florida 33139, United States
$6,000,000
$946/SF
Building Size
6,340 SF
Asset Type
Hotel
Closing
Apr 27, 2022
AI
The Nakash family has acquired a hotel property located at 1350 Collins Ave in Miami Beach. The transaction took place on April 28, 2022. The hotel, spanning an area of 6,340 square feet, was sold for $6,000,000, resulting in a price per square foot of $946. The property is situated in the Miami Beach market.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $6,000,000
- Square Footage: 6,340
- Price per Square Foot: $946
- Address: 1350 Collins Ave, Miami Beach
The sale was facilitated by brokers Matthew Rotolante and Rodrigo Calderon from Lee & Associates South Florida.
Players
Miami Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93