Benzion Stiel Acquires Boca Raton Office For $2.25M With CBRE Brokers
2263 Northwest 2nd Avenue
$2,250,000
$204/SF
Building Size
10,992 SF
Asset Type
Office
Closing
Dec 12, 2022
AI
The office property located at 2263 Northwest 2nd Avenue in Boca Raton has been sold in a transaction that closed on December 12, 2022. The property spans 10,992 square feet and was sold for a price of $2,250,000, resulting in a price per square foot of $205.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,250,000
- Square Footage: 10,992
- Address: 2263 Northwest 2nd Avenue, Boca Raton
The buyer of the property is Benzion Stiel, while the seller is Mark Spillane. The transaction was facilitated by brokers Sebastian Misiewicz and Benjamin (Ben) Silver of CBRE.
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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93