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
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
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