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1752 Bay Road

Deco Capital's Bradley Colmer Leases 11,841 SF Retail Space In Miami Beach To Audemars Piguet
LEASEDRetail

Deco Capital's Bradley Colmer Leases 11,841 SF Retail Space In Miami Beach To Audemars Piguet

1752 Bay Road

Building Size

11,841 SF

Asset Type

Retail

Closing

Oct 26, 2023

AI

The retail property located at 1752 Bay Road in Miami Beach is the site of a lease transaction. The property spans an area of 11,841 square feet and is part of the Sunset Harbour district.

Summary of transaction details

Audemars Piguet, led by Ilaria Resta, is planning to open a luxury concept store called AP House at the property. The store will be part of Eighteen Sunset, a mixed-use project in the Sunset Harbour district. AP House aims to provide an intimate space for clients, offering luxury experiences. The store is expected to open in 2024.

Players

Lyle Stern

Vertical Real Estate

Broker

$44.3M

vol

11 deals

Broker
DC
Deco CapitalLandlord

Miami Beach 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