Surf Style Acquires Retail Building In South Beach, Miami For $10M
1450 Collins Avenue
$10,000,000
$777/SF
Building Size
12,868 SF
Asset Type
Retail
Closing
Dec 23, 2021
About this deal
AI
A 3-story commercial Trophy Building located at 1450 Collins Ave in the Art Deco district of South Beach, Miami has been sold. The property, previously occupied by renowned national food chain Jerry’s Famous Deli and later acquired by Senor Frogs, was sold for a total of $10,000,000. The retail space spans 12,868 square feet, resulting in a price per square foot of $777.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $10,000,000
- Address: 1450 Collins Ave
- Market: South Beach, Miami Beach
- Buyer: Surf Style - Yossi Lipkin
- Seller: Zori Hayon
- Broker: Lavinia Otero - London Foster Realty
Lavinia Otero from London Foster Realty represented both the seller and buyer in this transaction. For any additional information, please contact Lavinia Otero at [email protected].
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93