Tamara Galinsky's Jetset Pilates Leases Space In Downtown Miami For 10 Years
151 Southeast 1st Street
Building Size
2,300 SF
Asset Type
Retail
Closing
Feb 26, 2024
AI
The retail space involved in the lease transaction is located at 151 Southeast 1st Street in Miami, with a total square footage of 2,300. The landlord of the property is Harvey Hernandez from Newgard Development Group, and the tenant is Tamara Galinsky operating Jetset Pilates. The lease term spans over 10 years, with the tenant represented by Jonathan Rifkind from Compass and the landlord's representatives being Linn Ahsberg and Shai Ben Ami from Urban Core.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 151 Southeast 1st Street
- Market: Miami
- Lease Term: 10 years
- Tenant: Tamara Galinsky - Jetset Pilates
- Landlord: Harvey Hernandez - Newgard Development Group
- Landlord's Rep: Linn Ahsberg & Shai Ben Ami - Urban Core
- Tenant's Rep: Jonathan Rifkind - Compass
The deal between Jetset Pilates and the Clear Spaces property in downtown Miami was successfully brokered for a long-term lease. The partnership between the tenant's representative Jonathan Rifkind from Compass, and the landlord's representatives Linn Ahsberg and Shai Ben Ami from Urban Core, facilitated the 10-year lease term, enabling Jetset Pilates to secure a 2,300-square-foot retail space within a building developed by Newgard Development Group back in 2016.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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