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1681 Lenox Avenue, Miami Be...

Witkoff Acquires Retail Property In Miami Beach For $15.4M
SOLDRetail

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

Steven Witkoff

Witkoff

Buyer

$1.3B

vol

11 deals

Buyer
MR
Marx RealtySeller

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