Fifteen Group Acquires Office Building In Miami Beach For $22M
801 Arthur Godfrey Road, Miami Beach, FL 33140, USA
$22,000,000
$423/SF
Building Size
52,000 SF
Asset Type
Office
Closing
Dec 10, 2021
About this deal
AI
The office property located at 801 Arthur Godfrey Road in Miami Beach has been sold in a recent transaction. The property spans over 52,000 square feet and is classified as an office asset. The sale took place on December 10, 2021, and the property was purchased by Fifteen Group, represented by Mark and Ian Sanders. The seller, Terranova Corporation, was represented by Stephen Bittel.
Summary of transaction details
- Property Type: Office
- Sale Price: $22,000,000
- Square Footage: 52,000
- Price Per Square Foot: $423
- Market: Miami Beach
Fifteen Group, led by Mark and Ian Sanders, acquired the property in this transaction. On the other side, Terranova Corporation, represented by Stephen Bittel, acted as the seller. The deal represents a significant investment in the Miami Beach office market, showcasing the confidence of the buyer in this asset.
On the Map
$22,000,000
$423/SF
Office
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Players
Miami Beach 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93