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2641 NW 5 Ave, Miami, FL, 3...

TriStar Capital Acquires Property From Kie Nam Park And Soon Joo Park For $18M With Brokers Jordan Gimelstein And Ari Dispenza
SOLDMixed-use

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:

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

Jordan Gimelstein

Inhouse Commercial

Broker

$183.3M

vol

16 deals

Broker
Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

154 deals

Broker
TC
Tristar CapitalBuyer

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