Valoro Capital Acquires Office Building At 1680 Meridian Avenue In Miami Beach For $22.7M
1680 Meridian Avenue
$23,000,000
$418/SF
Building Size
54,903 SF
Asset Type
Office
Closing
Dec 30, 2024
About this deal
AI
The property involved in this transaction is an office asset located at 1680 Meridian Avenue in the Miami Beach market. It was sold for a total of $22,700,000, encompassing a total square footage of 54,903, which breaks down to a price per square foot of $413.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22,700,000
- Address: 1680 Meridian Avenue
- Market: Miami Beach
- Square Footage: 54,903
- Price per Square Foot: $413
- Buyer: Valoro Capital
- Seller: Market Street Real Estate Partners
- Brokers: Douglas Mandel, Zach Levine & Joshua Gilbert - Marcus & Millichap
This transaction was facilitated by Douglas Mandel, Zach Levine, and Joshua Gilbert from Marcus & Millichap, who represented the buyer, Valoro Capital, as well as the seller, Market Street Real Estate Partners, in this closed deal.
On the Map
$23,000,000
$418/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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93