Chariff Realty Group Purchases Retail Asset From David Wallack For $8 Million In Miami
3711 Ne 2nd Ave
$8,000,000
Building Size
—
Asset Type
Retail
Closing
May 9, 2013
About this deal
AI
The property asset involved in this transaction is a retail space located at 3711 Ne 2nd Ave in Miami. The sale price for this asset was $8,000,000.00, highlighting its market presence and investment potential.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000.00
- Address: 3711 Ne 2nd Ave
- Market: Miami
- Buyer: Chariff Realty Group
- Seller: David Wallack
- Broker: Tony Arellano - DWNTWN Realty Advisors
This transaction was notable for the involvement of key participants, including the buyer, Chariff Realty Group, and the seller, David Wallack. Representation in the transaction was provided by broker Tony Arellano of DWNTWN Realty Advisors, who facilitated the deal between the parties involved.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93