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1771 West Avenue

Jordan Karp LLC And Avenue Real Estate Partners Represent Buyer In $28.5M Miami Beach Retail Sale
SOLDRetail

Jordan Karp LLC And Avenue Real Estate Partners Represent Buyer In $28.5M Miami Beach Retail Sale

1771 West Avenue

$28,500,000

$1,425/SF

Building Size

20,000 SF

Asset Type

Retail

Closing

Jun 16, 2025

AI

The property asset involved in this transaction is a retail space located at 1771 West Avenue in the Sunset Harbour District of Miami Beach. The sale price of the asset was $28,500,000, with a total square footage of 20,000, resulting in a price per square foot of $1,425.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $28,500,000
  • Address: 1771 West Avenue, Sunset Harbour District, Miami Beach
  • Square Footage: 20,000
  • Price Per Square Foot: $1,425

The key individuals involved in the deal included the buyer's representatives, Jordan Karp from Jordan Karp LLC and Aaron Butler from Avenue Real Estate Partners. The seller was represented by Paul Snitkin from Anderson Carr.

Players

Aaron Butler
Verified Badge

Aaron Butler

Avenue Real Estate Partners

Broker

$52.4M

vol

9 deals

Broker
Avenue Real Estate Partners
Avenue Real Estate PartnersBrokerage
Anderson Carr
Anderson CarrBrokerage

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

0.56%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93