Jose Aguera Acquires Hotel In Miami Beach From Ronnie Manashe For $7.3M
1420 Collins Ave
$7,300,000
$687/SF
Building Size
10,612 SF
Asset Type
Hotel
Closing
Jun 28, 2019
AI
The property at 1420 Collins Ave in Miami Beach is a hotel with a total square footage of 10,612. It was sold for a transaction amount of $7,300,000.00.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,300,000.00
- Address: 1420 Collins Ave
- Market: Miami Beach
- Asset Size: 10,612 SF
- Buyer: Jose Aguera
- Seller: Ronnie Manashe
The transaction involved brokerage representation from Arthur Porosoff and David Cohen of Horvath & Tremblay, as well as Scott Sandelin from Marcus & Millichap, who facilitated the deal between the buyer and seller.
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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93