Hidrock Properties Acquires Retail Property In Miami For $19M With Miguel Pinto - APEX Capital Realty As The Broker
1601 North Miami Avenue, Miami, Florida 33127, United States
$19,000,000
$496/SF
Building Size
38,310 SF
Asset Type
Retail
Closing
May 19, 2022
About this deal
AI
The retail property located at 1601 N. Miami Ave. in Miami has been sold for a sale price of $19,000,000. Spanning across 38,310 square feet, the property was acquired by Hidrock Properties - Eddie Hidary, Abie Hidary, and David Huke, along with LNDMRK Development represented by Alex Karakhanian. The seller in this transaction was Alex Karakhanian, while the deal was facilitated by Miguel Pinto of APEX Capital Realty.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $19,000,000
- Square Footage: 38,310
- Price Per Square Foot: $495
- Address: 1601 N. Miami Ave., Miami
- Market: Miami
The acquisition of the retail property at 1601 N. Miami Ave. involved several key individuals and companies. Hidrock Properties, represented by Eddie Hidary, Abie Hidary, and David Huke, partnered with LNDMRK Development, represented by Alex Karakhanian, to complete the transaction. Miguel Pinto of APEX Capital Realty served as the broker in the deal.
On the Map
$19,000,000
$496/SF
Retail
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Players
Miami 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93