Robert Rivani Acquires Retail Property In Miami Beach For $12.25M
SOLD
$12,250,000
+ 1
Florida
See Similar DealsRetail13,992 SF
Sold 10/13/2022
SOLD
Robert Rivani Acquires Retail Property In Miami Beach For $12.25M
1 Collins Place Miami Bea
See Similar DealsRetail13,992 SF
Sold 10/13/2022
+ 1
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$875
Total Square Footage:13,992 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,521.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,071.25
Annual Debt Service$696,855.00
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