Pebb Capital Acquires Mixed-use Property In Miami Beach For $47M
1501 Collins Avenue, Miami Beach, FL 33139, USA
$47,000,000
$470/SF
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
Sep 3, 2021
About this deal
AI
A mixed-use property located at 1501 Collins Ave. in Miami Beach has been sold for $47,000,000. The property spans 100,000 square feet, resulting in a price per square foot of $470.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $47,000,000
Pebb Capital, represented by Todd Rosenberg, and Maxwelle Real Estate Group have purchased the property. The seller was an affiliate of Russell Galbut.
The mixed use sale at 1501 Collins Avenue, Miami Beach, FL 33139, USA in Miami Beach, Florida sold for $47M in 2021. The building is 100,000 square feet, implying about 470 per square foot on the published price. Named participants on the 1501 Collins Avenue, Miami Beach, FL 33139, USA sale are Russell Galbut. This page is the Miami Beach, Florida file for the 1501 Collins Avenue, Miami Beach, FL 33139, USA mixed use sold: pricing, party profiles, and other closed mixed use comps from the same Miami Beach sit in the Market section below. Filter that Miami Beach mixed use set by closing date to see what else sold near 1501 Collins Avenue, Miami Beach, FL 33139, USA around 2021. Published consideration for 1501 Collins Avenue, Miami Beach, FL 33139, USA is $47M, dated 2021. Cite this Pebb Capital Acquires Mixed-use Property In Miami Beach For $47M sale when underwriting similar mixed use product around Miami Beach, Florida.
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93