DWNTWN Realty Advisors Leases Luxury Retail Space At Design 41 In Miami's Design District
112 Northeast 41st Street, Miami Design District, Miami, FL, USA
Building Size
1,832 SF
Asset Type
Retail
Closing
Apr 5, 2021
AI
DWNTWN Realty Advisors has leased out 1,832 SF of luxury retail space at Design 41, located at 112 NE 41st Street in the Design District of Miami. Design 41 is a 7-story boutique building known for its upscale office and retail offerings, featuring architecture by globally renowned Enrique Norten of TEN Arquitectos. It is one of the only Class A office buildings in the Design District.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: N/A
- Address: 112 NE 41st Street, Miami
- Market: Design District
- Landlord: Design 41
- Brokers: Tony Arellano, P.A. & Joe Fernandez - DWNTWN Realty Advisors
- Asking Rent: $210/ft.
- Square Footage: 1,832 SF
The deal was facilitated by Tony Arellano, P.A. and Joe Fernandez of DWNTWN Realty Advisors, who represented the tenant in securing the lease agreement for the luxury retail space at Design 41.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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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