Witkoff Acquires Retail Property In Miami Beach For $15.4M
1681 Lenox Avenue, Miami Beach, FL 33139, USA
$15,400,000
$1,030/SF
Building Size
14,952 SF
Asset Type
Retail
Closing
Aug 25, 2021
AI
The retail property located at 1681 Lenox Avenue in Miami Beach has been sold for $15,400,000. The property spans over 14,952 square feet, resulting in a price per square foot of $1,030. The sale took place on August 25, 2021, and the buyer is Steven Witkoff representing Witkoff. The seller in this transaction is Marx Realty.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,400,000
- Address: 1681 Lenox Avenue
- Market: Miami Beach
- Buyer: Steven Witkoff - Witkoff
- Seller: Marx Realty
The deal involves Steven Witkoff, representing Witkoff, as the buyer and Marx Realty as the seller. The transaction closed on August 25, 2021, for a total of $15,400,000. The property is a retail asset located at 1681 Lenox Avenue in Miami Beach.
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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93