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1 Northeast 1st Street, Mia...

Yair Levy Acquires Retail Property In Miami With $23.6M Loan
FINANCEDRetail

Yair Levy Acquires Retail Property In Miami With $23.6M Loan

1 Northeast 1st Street, Miami, FL, USA

$23,600,000

$104/SF

Building Size

225,000 SF

Asset Type

Retail

Closing

Feb 16, 2021

AI

1 Northeast 1st Street, a retail property in Miami, was involved in a closed transaction. The property, owned by Time Century Holdings represented by Yair Levy and Dan Deutsch, attracted attention in the market. The deal included a loan from City National Bank in the amount of $23,600,000. The property spans a total of 225,000 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $23,600,000
  • Address: 1 Northeast 1st Street, Miami
  • Market: Miami

The key individuals involved in the deal were Yair Levy and Dan Deutsch, representing Time Century Holdings as the landlords of the property. The loan was provided by City National Bank.

Players

City National Bank
City National BankLender

Yair Levy

Time Century Holdings

Landlord

$51.1M

vol

7 deals

Landlord

Miami Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.67%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93