Wellmeaning Investments Acquires Office Building In Miami For $18.75M
89 Northeast 27th Street, Miami, Florida 33137, United States
$18,750,000
$568/SF
Building Size
33,000 SF
Asset Type
Office
Closing
May 15, 2022
AI
The office building located at 89 NE 27th St in Miami has been sold in a recent transaction. The property spans approximately 33,000 square feet and is situated in a prime location in the market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $18,750,000
- Sale Price per Square Foot: $568
- Buyer: Wellmeaning Investments - Eduardo Pelaez
- Seller: Block Capital Group
- Broker: Leslie Cooper, Compass
Eduardo Pelaez, representing Wellmeaning Investments, acquired the property. The seller in this transaction was Block Capital Group. The deal was facilitated by the broker, Leslie Cooper from Compass.
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
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93