Robert Rivani Acquires Retail Property In Miami Beach For $12.25M
1 Collins Place Miami Bea
$12,250,000
$875/SF
Building Size
13,992 SF
Asset Type
Retail
Closing
Oct 13, 2022
AI
The transaction involved a retail property located at 1 Collins Ave in Miami Beach, which encompasses a total square footage of 13,992. The property was sold for a transaction amount of $12,250,000, translating to a price per square foot of $876.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,250,000
- Address: 1 Collins Ave
- Market: Miami Beach
- Square Footage: 13,992
- Price per Square Foot: $876
- Buyer: Robert Rivani - Black Lion
- Seller: Americo Dagostini & Domenico Albano
- Brokers: Fabio & Sebastian Faerman - FA Commercial
Robert Rivani represented Black Lion in the purchase, while the sellers Americo Dagostini and Domenico Albano engaged in this transaction with the assistance of brokers Fabio and Sebastian Faerman from FA Commercial.
Players
Miami Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93