Apple Core Holdings Acquires Mixed-Use Property On Miami Beach For $32.5M
1200 Ocean Drive, Miami Beach, FL, USA
$32,500,000
$1,710/SF
Building Size
19,000 SF
Asset Type
Mixed-use
Closing
Dec 23, 2019
About this deal
AI
The mixed-use property located at 1200 Ocean Drive in Miami Beach has been sold for a total of $32,500,000. The transaction took place on December 24, 2019. The property spans a total area of 19,000 square feet, resulting in a price per square foot of $1,710.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $32,500,000
- Address: 1200 Ocean Drive
- Market: Miami Beach
The seller of the property was Infinity Real Estate, while the buyer was Apple Core Holdings represented by Steve Klein. The deal was facilitated by Aaron Labovitz from Newmark Knight Frank.
On the Map
$32,500,000
$1,710/SF
Mixed-use
View full map
Players
Miami Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Deal FAQ
Visit Aaron Labovitz to view all their deals.
Browse Florida mixed use sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93