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200 Southeast 1st Street, D...

Brickman Secures $31M Loan For Downtown Miami Office Building
FINANCEDOffice

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

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.

Players

Dustin Stolly

Walker & Dunlop

Broker

$50B

vol

272 deals

Broker
BA
Brickman AssociatesLandlord

Miami Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

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