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1580 John F Kennedy Causewa...

Simcha Connection Inc Acquires Office Property In North Bay Village For $2.2M
SOLDOffice

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

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.

Players

Frank Trelles

Vivo Real Estate Group

Broker

$104.8M

vol

41 deals

Broker

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