BH Properties Acquires Retail Asset On Miami Beach's Lincoln Road For $96.3M
1100 Lincoln Road, Miami Beach, Florida 33139, United States
$96,300,000
$380/SF
Building Size
253,168 SF
Asset Type
Retail
Closing
May 25, 2022
About this deal
AI
The retail property located at 1100 Lincoln Road in Miami Beach has been sold for a total price of $96,300,000. The property spans a total area of 253,168 square feet, resulting in a price per square foot of $380. The sale was finalized on May 26, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $96,300,000
- Address: 1100 Lincoln Road, Miami Beach
- Market: Miami Beach
- Buyer: BH Properties
- Seller: Vornado Realty Trust - Steven Roth
Steven Roth of Vornado Realty Trust represented the seller in this transaction. BH Properties acted as the buyer in the deal. The sale of the retail property is a significant development in the Miami Beach market.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93