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1674 Meridian Avenue, Miami...

Juan Jose Zaragoza Acquires Office Building In Miami Beach For $26.5M
SOLDOffice

Juan Jose Zaragoza Acquires Office Building In Miami Beach For $26.5M

1674 Meridian Avenue, Miami Beach, FL 33139

$26,500,000

$793/SF

Building Size

33,384 SF

Asset Type

Office

Closing

Dec 16, 2021

AI

Located at 1674 Meridian Ave in Miami Beach, this office property was recently sold in a transaction closed on December 16, 2021. The property spans a total area of 33,384 square feet, with a sale price of $26,500,000. The price per square foot comes to $794. The sale was between the buyer, Juan Jose Zaragoza of Exan Capital, and the seller, Integra Investments represented by Victor Ballestas and Constellation Group represented by Eduardo Otaola.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $26,500,000

The buyer, Juan Jose Zaragoza, represents Exan Capital in the deal, while the seller is represented by Victor Ballestas from Integra Investments and Eduardo Otaola from Constellation Group. This transaction showcases the active market in Miami Beach and highlights the involvement of key individuals and companies in the real estate industry.

Players

Juan Jose Zaragoza

Exan Capital

Buyer

$245.7M

vol

5 deals

Buyer

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

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93