Heiva Holdings USA LLC Acquires Mixed-Use Property In Miami For $6.9M
300 NE 60th St, Miami, FL, 33137
$6,900,000
$363/SF
Building Size
19,000 SF
Asset Type
Mixed-use
Closing
Dec 12, 2017
AI
The three warehouses located at 300, 310 and 320 Northeast 60th Street in Little Haiti, Miami, FL, 33137, were sold for $6,900,000.00. The buildings span a total of over 19,000 square feet, comprising primarily warehouse space along with office space on both floors, as per marketing materials.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,900,000.00
- Market: Miami
- Seller: Salvatore Investments Inc
- Buyer: Heiva Holdings USA LLC
- Seller's Representative: Lyle Chariff(Chariff Realty Group), Mauricio Zapata(Chariff Realty Group)
- Buyer's Representative: Metro 1
- Square Footage: 19,000
Cirque du Soleil founder Guy Laliberte purchased the three warehouses in Little Haiti for $6.9 million in cash. Laliberte, also a partner in the $1 billion mixed-use project with developers Tony Cho, Bob Zangrillo, and Plaza Equity Partners, intends to use the warehouses for office space for his employees and storage ahead of the Magic City project's launch. The sale, which was brokered by Chariff Realty Group, marks a record-setting warehouse deal in Miami, averaging close to $400 per square foot.
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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93