Brick & Timber Collective Acquires Wynwood Office Building For $49M
215 Northwest 24th Street, Miami, Florida 33127, United States
$49,000,000
$11,666/SF
Building Size
4,200 SF
Asset Type
Retail
Closing
Feb 27, 2022
About this deal
AI
The property involved in this closed transaction is an office space located at 215 NW 24th St in the Wynwood market. The sale took place on 02/28/2022. The property spans 60,000 square feet, with a price per square foot of $733. The total sale price reached $49,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $49,000,000
- Address: 215 NW 24th St
- Market: Wynwood
Jesse Feldman, representing Brick & Timber Collective, acted as the buyer in this transaction. The buyer's broker representatives were Tony Arellano and Devlin Marinoff from DWNTWN Realty Advisors. The sellers in this deal were the Related Group represented by Jon Paul Perez and East End Capital represented by Jonathan Yorkmak.
Players
Miami 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93