Brickman Secures $31M Loan For Downtown Miami Office Building
200 Southeast 1st Street, Downtown Miami, Miami, FL, USA
$31,000,000
$218/SF
Building Size
142,000 SF
Asset Type
Office
Closing
Apr 10, 2019
About this deal
AI
The property involved in this transaction is an office building located at 200 Southeast 1st Street in Downtown Miami. The transaction took place on April 11, 2019. The property spans 142,000 square feet and is owned by Brickman. The building was constructed in 1958 and features street-level retail space with tenants including The Spot Barbershop, as well as a diverse roster of office tenants.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,000,000
- Market: Downtown Miami
- City: Miami
The lender in this deal was Värde Partners. The brokers involved in the transaction were Dustin Stolly, Jordan Roeschlaub, Chris Kramer, and Josh Egert from NKF Capital Markets.
It's worth noting that Jordan Roeschlaub, Dustin Stolly, and Josh Egert's image was shared in relation to this transaction.
On the Map
$31,000,000
$218/SF
Office
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Players
Miami Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93