Rafael Gomara Purchases Office At 1350 Red Road Miami For $1,500,000 From Richard Carmel
1350 Red Road
$1,500,000
$318/SF
Building Size
4,716 SF
Asset Type
Office
Closing
May 4, 2022
AI
The property involved in this transaction is an office asset located at 1350 Red Road in Miami. It encompasses a total square footage of 4,716 and has been sold for a price of $1,500,000.00.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,500,000.00
- Address: 1350 Red Road
- Market: Miami
- Asset Square Footage: 4,716
- Buyer: Rafael Gomara
- Seller: Richard Carmel
- Brokers: Arthur Porosoff, Joseph Phelps (Horvath & Tremblay)
This transaction was facilitated by brokers Arthur Porosoff and Joseph Phelps, representing Horvath & Tremblay. Rafael Gomara is the buyer of the property, while Richard Carmel is the seller.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93