G Wealth Management Purchases Office Property From Doug Levine For $23.5 Million In Miami
1900 Northeast Miami Court
$23,500,000
$539/SF
Building Size
43,559 SF
Asset Type
Office
Closing
Feb 27, 2025
AI
The office asset located at 1900 Northeast Miami Court in the Miami market has successfully changed hands for a sale price of $23,500,000. The property encompasses a total area of 43,559 square feet, equating to a price per square foot of $539.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $23,500,000
- Address: 1900 Northeast Miami Court
- Market: Miami
- Square Footage: 43,559
- Price per Square Foot: $539
- Buyer: G Wealth Management
- Seller: Doug Levine
- Buyer's Representative: Jason Abitbol - APEX Capital Realty
- Seller's Representatives: Devlin Marinoff & Tony Arellano - DWNTWN Realty Advisors
The transaction involved notable representatives in the real estate industry, with Jason Abitbol from APEX Capital Realty acting on behalf of the buyer, G Wealth Management. The seller, Doug Levine, was represented by Devlin Marinoff and Tony Arellano from DWNTWN Realty Advisors, indicating a collaborative effort by experienced brokers in the deal.
Players
Miami 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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93