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
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