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
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
Loading comparables…
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