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
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1752 Bay Road, Miami Beach
- Market: Miami Beach
- Landlord: Deco Capital - Bradley Colmer
- Tenant: Audemars Piguet - Ilaria Resta
- Landlord's Representative: Neil King - CBRE and Stephen Rutchik - Colliers
- Tenant's Representative: Jonathan Schley - CBRE and Lyle Stern - Vertical Real Estate
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
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