The Haimov Group Acquires Office Property At 960 West 41st Street For $8.025M

This transaction involved an office asset located at 960 West 41st Street in the Miami Beach market. The property was sold for a total of $8,025,000 and encompasses a square footage of 17,288, resulting in a price per square foot of $464.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $8,025,000
• Address: 960 West 41st Street
• Market: Miami Beach
• Square Footage: 17,288
• Price per Square Foot: $464
• Seller: Yair Gretah
• Buyer: The Haimov Group
• Broker Representatives: Adam H. Klein, Elon Gerberg & Arjun Arora - SVN
• Cap Rate: 5.4%

The transaction was facilitated by the ROI Group of SVNCP, who noted the record-setting price achieved in the Miami Beach submarket. The listing garnered over five competitive bids from qualified buyers within just ten days, leading to a closing that exceeded the initial pricing expectations.