Dan Gunam Leases Retail Space At 1921 Collins Avenue Miami Beach For 10 Years
1921 Collins Avenue
$235
$235/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Jan 31, 2025
AI
The property asset involved in this transaction is a retail space located at 1921 Collins Avenue in Miami Beach. It spans 5,000 square feet and has an asking rent of $235 per square foot. The lease agreement for this property is set for a term of 10 years under a NNN lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1921 Collins Avenue
- Market: Miami Beach
- Tenant: Dan Gunam
- Broker: Daniel Fedida
- Lease Term: 10 years
- Lease Type: NNN Lease
This transaction involved Dan Gunam, who is the founder of the Toronto-based Soluna Group, and broker Daniel Fedida. The deal successfully negotiated a 10-year lease for the iconic Mynt Nightclub, which will be maintained as a nightclub featuring global music influences.
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
67502.13%
Cash-on-Cash
-19292.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93