James Batmasian Acquires Office Building In Boca Raton For $6.35M
2701 Northwest 2nd Avenue
$6,350,000
$283/SF
Building Size
22,425 SF
Asset Type
Office
Closing
Feb 22, 2023
About this deal
AI
The office property located at 2701 Northwest 2nd Avenue in Boca Raton has been sold in a closed transaction. The property spans a total of 22,425 square feet, with a sale price of $6,350,000, resulting in a price per square foot of $283.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,350,000
- Address: 2701 Northwest 2nd Avenue, Boca Raton
- Market: Boca Raton
The buyer in this transaction is James Batmasian, while the seller is Eire Lonestar Florida represented by Mark Spillane. The seller was represented by Benjamin (Ben) Silver & Sebastian Misiewicz of CBRE.
Players
Market 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
2.50%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93