Spotify Leases 20,000 SF Space In Wynwood, Miami From Carpe Real Estate Partners
2335 North Miami Avenue, Wynwood, Miami, FL, USA
Building Size
10,831 SF
Asset Type
Other
Closing
Feb 26, 2020
About this deal
AI
The property at 2335 North Miami Avenue in Wynwood has recently been leased. The tenant, Spotify, will be occupying the space. The lease was signed on February 27, 2020.
Summary of transaction details
- Property Type: Lease
- Date: 02/27/2020
- Address: 2335 North Miami Avenue
- Market: Wynwood
- Tenant: Spotify - Daniel Ek
- Landlord: Carpe Real Estate Partners - David Weitz & Erik Rutter
- Tenant's Rep: Zach Winkler - JLL
- Landlord's Rep: Brian Gale & Andrew Trench - Cushman & Wakefield
- Asking Rent: $50
- SF: 20,000
Daniel Ek, the CEO of Spotify, will be representing the tenant in this lease agreement. The landlord, Carpe Real Estate Partners, is being represented by David Weitz and Erik Rutter. JLL's Zach Winkler is serving as the tenant's representative, while Cushman & Wakefield's Brian Gale and Andrew Trench are acting as the landlord's representatives in this transaction.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93