Dream Team Law Acquires Office In Coral Gables From Cantelop Properties LTD For $8.5M
1120 Ponce De Leon Boulevard
$8,500,000
$1,000/SF
Building Size
8,500 SF
Asset Type
Office
Closing
Mar 7, 2024
AI
An 8,500-square-foot office building located at 1120 Ponce De Leon Boulevard in Coral Gables was sold for $8,500,000. The buyer, Vanessa Diaz of Dream Team Law, acquired the property from seller Cantelop Properties LTD. The transaction was facilitated with the assistance of buyer's representative Jake Weiss from The Easton Group and seller's representative Pan American Realty Services.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,500,000
- Address: 1120 Ponce De Leon Boulevard
- Market: Coral Gables
- Buyer: Vanessa Diaz - Dream Team Law
- Seller: Cantelop Properties LTD
- Buyer's Rep: Jake Weiss - The Easton Group
- Seller's Rep: Pan American Realty Services
- SF: 8,500
- PPSF: $1,000
Coral Gables law firm Dream Team Law, under the leadership of Vanessa E. Dream, Esq., purchased the office building to consolidate its operations into a single location. This move allowed the firm to accommodate its growth and bring together about 30 attorneys and staff in South Florida and beyond.
Players
Coral Gables Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93