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Moishe Mana Acquires Retail Property In Allapattah For $16M

Property Image
SOLD
$16,000,000

Florida

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Retail
Sold 05/06/2022
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Property Image
SOLD

Moishe Mana Acquires Retail Property In Allapattah For $16M

2898 Northwest 7th Avenue, Miami, Florida 33127, United States

See Similar Deals
Retail
Sold 05/06/2022
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Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

The property asset involved in the transaction consists of multiple retail locations situated at 2898 Northwest Seventh Avenue, 2800, 2820, 2840 & 2850 Northwest Seventh Avenue, 728 Northwest 29th Street, 731 Northwest 28th Street, 753 Northwest Seventh Avenue, 719 Northwest 28th Street & 2810 Northwest 7th Avenue in the Allapattah market. The sale was completed for a total amount of $16,000,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $16,000,000
  • Buyer: Moishe Mana
  • Seller: Ari Dispenza, James Quinlan & Douglas H. Levine
  • Transaction Date: 05/06/2022

The key individuals involved in the transaction include Moishe Mana, representing the buyer, while the seller's team comprises Ari Dispenza, James Quinlan, and Douglas H. Levine. This deal reflects a significant move within the retail market sector of Allapattah, marking a notable transaction involving multiple asset addresses.

Players

26 deals$866.6M volume
BROKER

Moishe Mana
26 deals$866.6M volume
BUYER

Moishe Mana
26 deals$866.6M volume
BUYER

Moishe Mana
26 deals$866.6M volume
BUYER

Details

SOLD
IMAGE: Moishe Mana DATE: 05/06/2022 ADDRESS: 2898 Northwest Seventh Avenue, 2800, 2820, 2840 & 2850 Northwest Seventh Avenue, 728 Northwest 29th Street, 731 Northwest 28th Street, 753 Northwest Seventh Avenue, 719 Northwest 28th Street & 2810 Northwest 7th Avenue MARKET: Allapattah ASSET TYPE: Retail BUYER: Moishe Mana (@MoisheMana) SELLER: Ari Dispenza, James Quinlan & Douglas H. Levine SALE PRICE: $16,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95