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1120 Ponce De Leon Boulevard

Dream Team Law Acquires Office In Coral Gables From Cantelop Properties LTD For $8.5M
SOLDOffice

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

Jake Weiss

The Easton Group

Broker

$8.5M

vol

1 deal

Broker

Coral Gables 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

1.87%

Cash-on-Cash

-0.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93