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2534 North Miami Avenue, Wy...

Hidrock Properties Acquires Mixed-Use Asset In Wynwood, Miami For $13M
SOLDMixed-use

Hidrock Properties Acquires Mixed-Use Asset In Wynwood, Miami For $13M

2534 North Miami Avenue, Wynwood, Miami, FL, USA

$13,000,000

$540/SF

Building Size

24,070 SF

Asset Type

Mixed-use

Closing

Aug 24, 2021

AI

In a recent transaction, a mixed-use property located at 2534 North Miami Avenue in Wynwood, Miami was sold for $13,000,000. The property spans 24,070 square feet, resulting in a price per square foot of $540. The sale took place on August 24, 2021. The buyer of the property was Hidrock Properties, while the seller was Jon Bernstein. The deal was facilitated by brokers Jordan Gimelstein and David Spitz from the Koniver Stern Group.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $13,000,000
  • Address: 2534 North Miami Avenue, Wynwood, Miami
  • Market: Wynwood, Miami
  • Buyer: Hidrock Properties
  • Seller: Jon Bernstein
  • Brokers: Jordan Gimelstein & David Spitz - Koniver Stern Group
  • Square Footage: 24,070
  • Price per Square Foot: $540

This transaction showcases the successful collaboration between Hidrock Properties as the buyer and Jon Bernstein as the seller. The deal was facilitated by Jordan Gimelstein and David Spitz from the Koniver Stern Group, who played a crucial role in ensuring a seamless transaction.

Players

Jordan Gimelstein

Inhouse Commercial

Broker

$180.4M

vol

15 deals

Broker
Hidrock Properties
Hidrock PropertiesBuyer

Miami 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

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93