Newton Ng Acquires Office Building In Miami For $5.1M
SOLD
$5,125,000
+ 3
Florida
See Similar DealsOffice20,000 SF
Sold 11/29/2022
SOLD
Newton Ng Acquires Office Building In Miami For $5.1M
46 Southwest 1st Street Miami
See Similar DealsOffice20,000 SF
Sold 11/29/2022
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$256
Total Square Footage:20,000 SF
Transaction Type:Sale
An office property located at 46 SW 1st Street in Miami has been sold for a price of $5,125,000. The property spans 20,000 square feet, resulting in a price per square foot of $256. The transaction took place on November 29, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,125,000
- Square Footage: 20,000
- Price per Square Foot: $256
- Address: 46 SW 1st Street, Miami
The buyer of the property was Newton Ng, while the sellers were Abby Meiselman and Harris Buchbinder. The deal was facilitated by the broker representatives Jonathan De La Rosa, Brandon Holmes, Matthew Albregts, Alex D'Alba, Scott Sandelin, and Manny Chamizo from Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$273,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,208.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,295.11
Annual Debt Service$291,541.38
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