Alex Rodriguez's ARodCorp Acquires Office Condo In Coconut Grove For $4.95M From Seller GBCommercial Investments
2669 S Bayshore Dr, Northeast Coconut Grove, Miami, FL, USA
$4,950,000
$389/SF
Building Size
12,700 SF
Asset Type
Mixed-use
Closing
Jul 11, 2019
About this deal
AI
Located in Coconut Grove, the office condo at 2669 S Bayshore Dr has been sold in a transaction that took place on 07/12/2019. The property, with a size of 12,700 square feet, was sold for a price of $4,950,000, resulting in a price per square foot of $389.76. The buyer of the property is Alex Rodriguez, who is associated with ARodCorp. The seller of the property is GBCommercial Investments. The deal was facilitated by Andrew Gurewitsch from an undisclosed agency.
Summary of transaction details:
- Property Type: Office Condo
- Date: 07/12/2019
- Address: 2669 S Bayshore Dr
- Market: Coconut Grove
- Buyer: Alex Rodriguez (ARodCorp)
- Seller: GBCommercial Investments
- Broker: Andrew Gurewitsch
- Price: $4,950,000
- Square Footage: 12,700
- Price per Square Foot: $389.76
Andrew Gurewitsch played a crucial role in facilitating the transaction as the broker representing the buyer in this deal. Both the buyer and the seller have noteworthy profiles in their respective fields and were involved in this successful investment.
On the Map
$4,950,000
$389/SF
Mixed-use
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Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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About $389 per square foot on a published $5M for 12,700 square feet (2019).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.20%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93