Pebb Capital Acquires Mixed-use Property In Miami Beach For $47M
SOLD
$47,000,000
Florida
See Similar DealsMixed-use100,000 SF
Sold 09/03/2021
SOLD
Pebb Capital Acquires Mixed-use Property In Miami Beach For $47M
1501 Collins Avenue, Miami Beach, FL 33139, USA
See Similar DealsMixed-use100,000 SF
Sold 09/03/2021
Summary
FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$470
Total Square Footage:100,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,506,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,981.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$222,803.98
Annual Debt Service$2,673,647.74
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