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1350 Red Road

Rafael Gomara Purchases Office At 1350 Red Road Miami For $1,500,000 From Richard Carmel
SOLDOffice

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:

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

Joseph Phelps

Horvath & Tremblay

Broker

$3.3M

vol

1 deal

Broker

Rafael Gomara

Buyer
Buyer

Richard Carmel

Seller
Seller

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