TriStar Capital Acquires Property From Kie Nam Park And Soon Joo Park For $18M With Brokers Jordan Gimelstein And Ari Dispenza
2641 NW 5 Ave, Miami, FL, 33127
$18,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 14, 2018
AI
The asset involved in this transaction is located at 2641 NW 5 Ave, Miami, FL, 33127, and the sale price was $18,000,000.00. The transaction involves properties situated in the Miami market with a square footage of 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $18,000,000.00
- Buyer: TriStar Capital
- Seller: Kie Nam Park and Soon Joo Park
- Buyer's Representative: Jordan Gimelstein and Devlin Marinoff, Dwntwn Realty Advisors
- Seller's Representative: Ari Dispenza, Central Commercial Real Estate
Notably, Edelstein’s New York-based TriStar Capital acquired the properties at both 2641 and 2661 Northwest Fifth Avenue. The representatives for the buyer included Tony Arellano, Devlin Marinoff, and Jordan Gimelstein from Dwntwn Realty Advisors, while Ari Dispenza from Central Commercial Real Estate represented the seller, Kie Nam Park and Soon Joo Park.
Players
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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93