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1905 Collins Avenue

Johan Pfeiffer Leases Retail Space For The Beatrice Nightclub At 1905 Collins Avenue Miami Beach
LEASEDRetail

Johan Pfeiffer Leases Retail Space For The Beatrice Nightclub At 1905 Collins Avenue Miami Beach

1905 Collins Avenue

$218

$218/SF

Building Size

2,100 SF

Asset Type

Retail

Closing

Jan 1, 2025

AI

The property asset involved in this transaction is a retail space located at 1905 Collins Avenue in the Miami Beach market. The asset has a square footage of 2,100 and is leased under a NNN lease type with an asking rent of $218 per square foot. The property was previously occupied by Myn-Tu, which was once known as Rokbar, and has been transformed into "The Beatrice," a nightclub inspired by Boiler Room.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Tenant: Johan Pfeiffer - The Beatrice
  • Broker: Daniel Fedida
  • Lease Term: 10 years
  • Lease Type: NNN Lease

Johan Pfeiffer, a hospitality entrepreneur, designer, and DJ producer, has reimagined the space to create an electrifying atmosphere complemented by world-class DJs and an L-Acoustics sound system. Daniel Fedida facilitated the off-market business sale and structured the lease for The Beatrice, which aims to set a new standard for Miami nightlife with its intimate vibe, VIP crowd, and standout pizza.

Players

Daniel Fedida

Broker

$28.5M

vol

8 deals

Broker

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

72766.06%

Cash-on-Cash

-20796.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93