Thor Equities Group Sells Miami Office Building On NE 39th Street For $45.2M
70 Northeast 39th Street, Miami, Florida 33137, United States
$45,210,000
$3,485/SF
Building Size
12,972 SF
Asset Type
Office
Closing
Aug 21, 2022
About this deal
AI
Thor Equities Group and Joe Sitt, in partnership with ASB Capital Management, have sold an office property located at 70 NE 39th Street in Miami. The transaction was completed on 08/22/2022, with a sale price of $45,210,000. The property spans 12,972 square feet, resulting in a price per square foot of $3,485.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $45,210,000
- Address: 70 NE 39th Street, Miami
- Square Footage: 12,972
- Price per Square Foot: $3,485
Joe Sitt, representing Thor Equities Group, and ASB Capital Management were the sellers in this transaction.
Players
Miami Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93