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375 Northeast 54th Street

The Alpha Commercial Leases Office In Miami For $30/ft
LEASEDOffice

The Alpha Commercial Leases Office In Miami For $30/ft

375 Northeast 54th Street

$30

$30/SF

Building Size

850 SF

Asset Type

Office

Closing

Mar 15, 2024

AI

The office located at 375 Northeast 54th Street in Miami has been leased for an asking rent of $30 per square foot with a total space of 850 square feet. The lease transaction involved the landlord, Tim Lincoln, and the tenant, The Alpha Commercial. The tenant was represented by Jamie Rose Maniscalco of The Alpha Commercial, while the landlord was represented by Alexandros Tsoulfas of STL Advisors.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Address: 375 Northeast 54th Street
  • Market: Miami
  • Tenant: The Alpha Commercial
  • Landlord: Tim Lincoln
  • Tenant's Rep: Jamie Rose Maniscalco - The Alpha Commercial
  • Landlord's Rep: Alexandros Tsoulfas - STL Advisors

The Alpha Commercial expressed gratitude for the collaboration with STL Advisors in securing their first private office location. The tenant is dedicated to enhancing the lives of their agents, clients, and communities through investment-friendly deal-making and wishes for a prosperous 2024.

Players

Jamie Rose Maniscalco

The Alpha Commercial

Broker

$197.5M

vol

57 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

528766.67%

Cash-on-Cash

-151123.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93