Simcha Connection Inc Acquires Office Property In North Bay Village For $2.2M
1580 John F Kennedy Causeway, North Bay Village, FL, USA
$2,200,000
$415/SF
Building Size
5,300 SF
Asset Type
Office
Closing
Jan 31, 2021
About this deal
AI
The office located at 1580 Kennedy Causeway in North Bay Village has been sold in a recent transaction. The property, measuring 5,300 square feet, was sold for a price of $2,200,000. The office is situated in a desirable location in North Bay Village, offering convenient access to amenities and transportation options.
Summary of transaction details
- Property Type: Office
- Date of Sale: 02/01/2021
- Address: 1580 Kennedy Causeway, North Bay Village
- Buyer: Simcha Connection Inc
- Seller: Entelquia Group
- Listing Price: $2,500,000
- Sale Price: $2,200,000
- Square Footage: 5,300
- Price per Square Foot: $415
The deal was facilitated by the brokers involved in the transaction. Frank Trelles from State Street Realty and Victor Torres from Pure Investments represented the buyer and seller, respectively. The involvement of these experienced professionals contributed to the successful completion of the deal.
On the Map
$2,200,000
$415/SF
Office
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Players
Miami Beach 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93