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.
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