Foster And Partners Leases Office Space At 112 Northeast 41st Street In Miami
112 Northeast 41st Street
$70
$70/SF
Building Size
4,000 SF
Asset Type
Office
Closing
Oct 21, 2024
AI
The office asset involved in this transaction is located at 112 Northeast 41st Street, Miami. The leased space consists of 4,000 square feet and operates under a Modified Gross Lease. The asking rent for the property was set at $70 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $280,000
- Lease Type: Modified Gross Lease
- Landlord: Design Development Partners
- Tenant: Foster and Partners
- Landlord's Representative: Tony Arellano & Joe Fernandez - DWNTWN Realty Advisors
- Tenant's Representative: Joyce Gato - Douglas Elliman
This lease agreement involved key representatives in the real estate sector, showcasing the collaboration between brokers and companies. Tony Arellano and Joe Fernandez represented Design Development Partners, while Joyce Gato represented Foster and Partners in the transaction.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93