Glenn Braswell Jr Purchases 3740 NE 2nd Ave Miami From LNDMRK Development For $8.5M
3740 NE 2nd Ave, Miami, FL, 33137
$8,500,000
$1,918/SF
Building Size
4,431 SF
Asset Type
Retail
Closing
Mar 16, 2022
About this deal
AI
The property involved in this transaction is located at 3740 NE 2nd Ave, Miami, FL, 33137. The sale price of the asset was $8,500,000.00, with a total square footage of 4,431. The market for this property is identified as Miami.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $8,500,000.00
- Address: 3740 NE 2nd Ave, Miami, FL, 33137
- Market: Miami
- Buyer: Glenn Braswell Jr
- Seller: LNDMRK Development
- Buyer's Representative: Max Loria (STL Advisors)
- Seller's Representative: Devlin Marinoff (DWNTWN Realty Advisors)
- Square Footage: 4,431
The transaction involved key representatives for both the buyer and seller, providing professional expertise throughout the deal. Max Loria from STL Advisors represented the buyer, while Devlin Marinoff from DWNTWN Realty Advisors represented the seller, LNDMRK Development.
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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93