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230 Northwest 24th Street

Updated Oct 29, 2024

Jesse Feldman, Glenn Gilmore Brick & Timber Collective Acquire Miami Office Building For $62M
SOLDOffice

Jesse Feldman, Glenn Gilmore Brick & Timber Collective Acquire Miami Office Building For $62M

230 Northwest 24th Street

$62,000,000

$673/SF

Building Size

92,000 SF

Asset Type

Office

Closing

Dec 7, 2022

About this deal

AI

The office property located at 230 Northwest 24th Street in Miami has been sold in a transaction. The property spans a total area of 92,000 square feet and was sold for a price of $62,000,000, resulting in a price per square foot of $674.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $62,000,000
  • Square Footage: 92,000
  • Price per Square Foot: $674
  • Address: 230 Northwest 24th Street, Miami

The buyers of the property are Jesse Feldman, Glenn Gilmore Brick, and Timber Collective. Notably, Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors served as the brokers in this transaction, representing the buyers.

The sellers of the property are Alex Karakhanian, who is associated with LNDMRK, and Ben Mandel from Tricera.

Players

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

156 deals

Broker

Jesse Feldman

Brick & Timber Collective

Buyer

$111M

vol

2 deals

Buyer

Miami Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $673 per square foot on a published $62M for 92,000 square feet (2022).

Visit Devlin Marinoff to view all their deals.

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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