Feldman Equities Acquires Office Building On Main St In Sarasota For $50M
SOLD
$50,000,000
+ 2
Florida
See Similar DealsOffice2,479,470 SF
Sold 03/16/2020
SOLD
Feldman Equities Acquires Office Building On Main St In Sarasota For $50M
1819 Main St, Sarasota, FL 34236, USA
See Similar DealsOffice2,479,470 SF
Sold 03/16/2020
+ 2
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$20
Total Square Footage:2,479,470 SF
Transaction Type:Sale
The office property located at 1819 Main St in Sarasota has been sold in a closed transaction. The transaction took place on 03/16/2020. The property spans across 247,947 square feet and was sold at a price of $50,000,000, which translates to a price per square foot of $201. The buyer in this transaction is Feldman Equities, represented by Larry Feldman, Tower Realty Partners, and Equity Street. The seller is Dilweg Cos.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $50,000,000
- Square Footage: 247,947
- Price per Square Foot: $201
- Date: 03/16/2020
- Buyer: Feldman Equities - Larry Feldman, Tower Realty Partners & Equity Street
- Seller: Dilweg Cos
The brokers involved in this transaction include Hermen Rodriguez, Ike Ojala, Matthew McCormack, Bryan Clark, and Daniel Pinkus.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,666,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11
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