SOLDRetail
AMAC & Daniel Neary Acquire Retail Property In Miami Beach For $32.5M
1800 Alton Road, Miami Beach, Florida 33140, United States
$32,500,000
$1,020/SF
Building Size
31,840 SF
Asset Type
Retail
Closing
Jan 3, 2022
About this deal
AI
Located at 1800 Alton Road in Miami Beach, this retail property was recently sold in a closed transaction. The sale was facilitated by Jordan Gimelstein and David Spitz of The Koniver Stern Group.
Summary of transaction details:
- Property Type: Retail
- Sale Price: $32,500,000
- Square Footage: 31,840
- Price per Square Foot: $1,021
- Date: January 26, 2022
- Market: Miami Beach
The buyer in this transaction was AMAC and Daniel Neary, while the seller was Saber 1800 Alton, LLC. The retail property spans a total of 31,840 square feet, with a sale price of $32,500,000, resulting in a price per square foot of $1,021.
Representing the buyer and seller respectively, Jordan Gimelstein and David Spitz, of The Koniver Stern Group, played key roles in completing this transaction.
On the Map
$32,500,000
$1,020/SF
Retail
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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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93