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2915 Sw 27 Ave

Howard Roark Acquires Coconut Grove Office Building From Martin Schleifer For $3.1M
SOLDOffice

Howard Roark Acquires Coconut Grove Office Building From Martin Schleifer For $3.1M

2915 Sw 27 Ave

$3,100,000

$322/SF

Building Size

9,627 SF

Asset Type

Office

Closing

Oct 2, 2023

AI

Gridline Properties has facilitated the sale of an office property located at 2915 Southwest 27th Avenue in the Coconut Grove market. The transaction, which took place on October 2, 2023, involved a property with a total square footage of 9,627. The office was sold for a price of $3,100,000, resulting in a price per square foot of $322.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,100,000
  • Address: 2915 Southwest 27th Avenue
  • Market: Coconut Grove
  • Square Footage: 9,627

Howard Roark successfully acquired the office property from Martin Schleifer. The transaction was facilitated by Alfredo Riascos from Gridline Properties acting as the broker.

Players

Alfredo Riascos

Gridline Properties

Broker

$331.2M

vol

49 deals

Broker

Howard Roark

Buyer

$44M

vol

10 deals

Buyer

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

5.12%

Cash-on-Cash

-1.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93