Glenn Almon Braswell Jr. Acquires Retail Property In Miami Design District For $8.45M
3740 Northeast 2nd Avenue, Miami, Florida 33137, United States
$8,450,000
$1,907/SF
Building Size
4,431 SF
Asset Type
Retail
Closing
Mar 14, 2022
About this deal
AI
Glenn Almon Braswell Jr., Alexander Karakhanian, Tony Arellano, Max Loria, and Devlin Marinoff were involved in a recent sale transaction in the Miami Design District. The property, located at 3740 NE 2nd Avenue, is a retail asset with a total square footage of 4,431. The sale took place on March 15, 2022, and the sale price was $8,450,000. The price per square foot for the property was $1,907, and the land size is 5,250 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,450,000
- Address: 3740 NE 2nd Avenue
- Market: Miami Design District
- Square Footage: 4,431
Glenn Almon Braswell Jr. acted as the buyer in the transaction, while Alexander Karakhanian, representing LNDMRK Development, was the seller. Max Loria served as the buyer's representative, and Devlin Marinoff and Tony Arellano, from DNWTWN Realty Advisors, acted as the seller's representatives.
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
1.88%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93