Sunbeam Television Acquires Retail Property In North Bay Village For $14M
SOLD
$14,000,000
Florida
See Similar DealsRetail
Sold 12/22/2021
SOLD
Sunbeam Television Acquires Retail Property In North Bay Village For $14M
1600 79th Street, Miami Beach, Florida 33141, United States
See Similar DealsRetail
Sold 12/22/2021
Summary
FLORIDA
Asset Type:Retail
Transaction Type:Sale
Andy Ansin of Sunbeam Television has acquired two retail properties at 1600 and 1624 79th Street Causeway in North Bay Village. The properties were sold by Sofik and Iris Martayan of Baymar Hotels & Properties for a total price of $14,000,000. The deal was facilitated by Samuel Heskiel and Marilina Apfelbaum of Beachfront Realty Commercial Division.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $14,000,000
- Date: 12/22/2021
- Address: 1600 & 1624 79th Street Causeway
- Market: North Bay Village
The acquisition of these retail properties by Andy Ansin of Sunbeam Television was made possible through the efforts of Samuel Heskiel and Marilina Apfelbaum, representing Beachfront Realty Commercial Division. This transaction marks a significant investment in the North Bay Village retail market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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