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1125 NE 125 St, North Miami...

Howard Roark Acquires Office Property In North Miami Beach For $6.5M
SOLDOffice

Howard Roark Acquires Office Property In North Miami Beach For $6.5M

1125 NE 125 St, North Miami, Florida 33161, United States

$6,500,000

$209/SF

Building Size

31,000 SF

Asset Type

Office

Closing

Jan 20, 2022

AI

The office property located at 1125 NE 125 Street in North Miami Beach has been sold for $6,500,000. The property encompasses approximately 31,000 square feet, resulting in a price per square foot of $210. The transaction took place on January 21, 2022. The buyer in this deal was Howard Roark, while the seller was Uri Segev. The sale was facilitated by Alfredo Riascos of Gridline Properties.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $6,500,000
  • Address: 1125 NE 125 Street
  • Market: North Miami Beach
  • Buyer: Howard Roark
  • Seller: Uri Segev
  • Broker: Alfredo Riascos - Gridline Properties
  • Square Footage: 31,000
  • Price per Square Foot: $210

Alfredo Riascos of Gridline Properties played a crucial role in representing the buyer and seller in this transaction. Their expertise and negotiation skills contributed to the successful completion of the deal.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Howard Roark

Buyer

$44M

vol

10 deals

Buyer

North 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

2.44%

Cash-on-Cash

-0.70%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93