Jose & Alberta Sotomayor Acquire Office Property At 937 Northeast 79th Street For $1.5M
937 Northeast 79th Street
$1,500,000
$540/SF
Building Size
2,778 SF
Asset Type
Office
Closing
Sep 5, 2024
AI
The property asset involved in this transaction is an office located at 937 Northeast 79th Street in Miami's Little River/Shorecrest market. It was sold for $1,500,000 and consists of 2,778 square feet. The price per square foot is $539, with a land size of 6,875 square feet, translating to a price per land square foot of $218.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $1,500,000
- Square Footage: 2,778 SF
- Price per Square Foot: $539
- Land Size: 6,875 SF
- Price per Land Square Foot: $218
- Buyer: Jose & Alberta Sotomayor
- Seller: Greg Schweitzer
- Seller's Representative: Jamie Rose Maniscalco & Steffanie Jacobson - The Alpha Commercial
The transaction involved Jose & Alberta Sotomayor as buyers, while Greg Schweitzer served as the seller. The representation for the seller was handled by Jamie Rose Maniscalco and Steffanie Jacobson from The Alpha Commercial, highlighting the professional engagement in facilitating the sale.
Players
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93