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112 Northeast 41st Street

Foster And Partners Leases Office Space At 112 Northeast 41st Street In Miami
LEASEDOffice

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

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

153 deals

Broker

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