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1141 71st Street

Howard Chase's Mixed-Use Building Sold For $1.155M In Miami Beach With Elie Saada As Buyer's Rep
SOLDMixed-use

Howard Chase's Mixed-Use Building Sold For $1.155M In Miami Beach With Elie Saada As Buyer's Rep

1141 71st Street

$1,155,000

$517/SF

Building Size

2,230 SF

Asset Type

Mixed-use

Closing

Sep 12, 2024

AI

The transaction involved a free standing mixed-use building located at 1141 71st Street in Miami Beach. The property, which spans 2,230 square feet, was listed at an asking price of $1,290,000 and sold for $1,155,000, resulting in a price per square foot of $517.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,155,000
  • Address: 1141 71st Street
  • Market: Miami Beach
  • Square Footage: 2,230
  • Asking Price: $1,290,000
  • Price per Square Foot: $517
  • Buyer's Representative: Elie Saada - Royal Beach Realty
  • Seller's Representative: Howard Chase - Howard Chase Real Estate, LLC

This transaction highlights the involvement of Elie Saada representing the buyer, and Howard Chase representing the seller, both of whom are significant figures in the brokerage community. The property was noted for its location on burgeoning Normandy Isle, which played a role in the transaction's dynamics.

Players

Howard Chase

Broker

$7.3M

vol

2 deals

Broker

Miami Beach Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.73%

Cash-on-Cash

-3.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93