Maurizio Galle Leases Sorbillo Pizzeria Space From Myles Chefetz In Miami Beach
100 Collins Ave, Miami Beach, FL, 331...
Building Size
2,500 SF
Asset Type
Retail
Closing
Jun 8, 2018
About this deal
AI
The property is located at 100 Collins Avenue, Miami Beach, FL, within an active retail market. The leased space measures 2,500 square feet and is situated next to Prime Fish, owned by Myles Chefetz. The location was previously occupied by Craft Social and Shoji Sushi.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 100 Collins Ave, Miami Beach, FL, 331...
- Tenant: Sorbillo Pizzeria
- Landlord: Myles Chefetz
- Tenant's Representative: Maurizio Galle-Avenue Real Estate Partners
Sorbillo Pizzeria, based in Naples, Italy, is set to open its first location in the Southeastern U.S. in Miami Beach’s South-of-Fifth neighborhood. The restaurant has also signed a lease for a location in Times Square, New York, following its debut in the Bowery neighborhood of New York in November.
Players
Miami Beach Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Browse Florida retail leases on Traded.
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