LEASEDMixed-use
Philip Sylvester Leases Mixed-Use Space At 78 Northwest 37th Street To Collector Square For $66.66/ft
78 Northwest 37th Street
$200,000
$200,000/SF
Building Size
3,000 SF
Asset Type
Mixed-use
Closing
May 20, 2026
AI
The property involved in this transaction is a mixed-use asset located at 78 Northwest 37th Street in Miami. The asking rent for this asset is set at $66.66 per square foot for a total area of 3,000 square feet. The lease term consists of three years with an option for an additional three years. It is classified as a NNN lease.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $66.66/ft
- Address: 78 Northwest 37th Street
- Market: Miami
- Landlord: Philip Sylvester
- Tenant: Collector Square
- Tenant's Representative: Francisco Canestri & Paulie Hankin - Cervera Real Estate
- Lease Term: 3Y + 3Y
- Lease Type: NNN Lease
- Square Footage: 3,000
Collector Square, the tenant in this transaction, is a Paris-based luxury firm, specializing in the sale of vintage handbags, watches, jewelry, and art.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
79.31%
Cash-on-Cash
-22.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93