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3490 Northwest 2nd Avenue

Centner Academy Acquires Office Building In Miami From Babba Yesharim For $4.7M
SOLDOffice

Centner Academy Acquires Office Building In Miami From Babba Yesharim For $4.7M

3490 Northwest 2nd Avenue & 3442 Southwest 2nd Avenue

$4,700,000

$185/SF

Building Size

25,322 SF

Asset Type

Office

Closing

Jan 5, 2023

AI

Babba Yesharim has sold the Wynwood 34 property in Miami for a record price of $4,700,000. The property consists of two parcels and features a 7660 SF warehouse. The sale was facilitated by Colliers International, with Virgilio Fernandez and Mitash Kripalani representing the seller.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $4,700,000
  • Address: 3490 NW 2nd Ave & 3442 NW 2nd Ave
  • Market: Miami
  • Square Footage: 12,661 SF
  • Price per Square Foot: $371
  • Buyer: Centner Academy
  • Seller: Babba Yesharim
  • Brokers: Virgilio Fernandez & Mitash Kripalani - Colliers International

Colliers International is pleased to announce the successful sale of the Wynwood 34 property. This transaction represents a significant achievement for the seller, reaching a record sale price for their client. For further inquiries or assistance with property valuation and investment goals, interested parties can contact Virgilio Fernandez at (305) 613-4507.

Players

Mitash Kripalani

Colliers

Broker

$137.6M

vol

23 deals

Broker
CA
Centner AcademyBuyer
Babba Joshua Yesharim

Babba Joshua Yesharim

Seller

$107.5M

vol

28 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

3.38%

Cash-on-Cash

-0.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93