Claudio & Gonzalo Maggi Acquire Pompano Beach Office Building For $8.4M
SOLD
$8,400,000
Florida
See Similar DealsOffice29,739 SF
Sold 01/07/2022
SOLD
Claudio & Gonzalo Maggi Acquire Pompano Beach Office Building For $8.4M
2201-2283 SW 2nd St, Pompano Beach, FL 33069
See Similar DealsOffice29,739 SF
Sold 01/07/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$282
Total Square Footage:29,739 SF
Transaction Type:Sale
The property involved in this closed transaction is an office located at 2201-2283 Southwest Second Street in Pompano Beach. The sale took place on 01/07/2022 and the property was purchased for a total of $8,400,000. The office spans a total area of 29,739 square feet, resulting in a price per square foot of $282.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,400,000
- Address: 2201-2283 Southwest Second Street, Pompano Beach
- Market: Pompano Beach
The buyer of the property is Claudio & Gonzalo Maggi, while the seller is Atlantic Commercial Holdings represented by Peter Hotchkiss & Kenneth Jackson. The buyer was represented by Alejandro Silbestein from Resma, and the seller was represented by Scott O’Donnell & Greg Miller from Cushman & Wakefield. Additionally, the lender involved in this transaction is Banesco USA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$448,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43
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