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2263 Northwest 2nd Avenue

Benzion Stiel Acquires Boca Raton Office For $2.25M With CBRE Brokers
SOLDOffice

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

Benjamin Silver

CBRE

Broker

$255.5M

vol

36 deals

Broker

Mark Spillane

Seller

$21.6M

vol

4 deals

Seller

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