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
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