Time Century Holdings Acquires 225000 SF Property In Miami For $14.5 Million From Aaron Realty Corp
1 NE 1st St, Miami, FL, 33132
$14,500,000
$64/SF
Building Size
225,000 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is located at 1 NE 1st St, Miami, FL, 33132. The transaction was concluded for a total price of $14,500,000.00, encompassing a total square footage of 225,000 in the Miami market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $14,500,000.00
- Address: 1 NE 1st St, Miami, FL, 33132
- Market: Miami
- Seller: Aaron Realty Corp
- Buyer: Time Century Holdings
- Seller's Representative: Gerard Yetming-Colliers International
The individuals and companies involved in the transaction include the buyer, Time Century Holdings, and the seller, Aaron Realty Corp. The seller's representative, Gerard Yetming from Colliers International, facilitated the sale process.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93