Pebb Capital Sells 100-Key Hotel In Miami Beach For $43.9M
4000 Collins Avenue, Miami Beach, Florida 33140, United States
$43,900,000
$951/SF
Building Size
46,122 SF
Asset Type
Hotel
Closing
Jun 14, 2022
About this deal
AI
The sale of the property at 4000 Collins Ave in Miami Beach, FL has been completed. The asset is a hotel with 100 keys and a total area of 44,500 square feet. The property was sold by Pebb Capital, represented by Todd Rosenberg, and LeaseFlorida, represented by Alan Waserstein.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $43,900,000
- Address: 4000 Collins Ave, Miami Beach, FL
- Market: Miami Beach, FL
- Square Footage: 44,500 SF
- Price Per Square Foot: $987
The sale was completed on 06/15/2022. The property is located in Miami Beach, FL, which is known for its vibrant real estate market. The transaction involved notable individuals in the industry, including Todd Rosenberg representing Pebb Capital and Alan Waserstein representing LeaseFlorida. The sale price of $43,900,000 reflects the value of the property and its potential for future growth.
Players
Miami Beach Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93