Sam Hertzberg, David Hertzberg & Richard Do Sell Retail Property In Miami For $35M
3800 Northeast 2nd Avenue
$35,000,000
$3,701/SF
Building Size
9,455 SF
Asset Type
Retail
Closing
Jul 14, 2025
AI
The property asset involved in this transaction is a retail space located at 3800 Northeast 2nd Avenue, Miami. The sale price was $35,000,000, with a total square footage of 9,455, resulting in a price per square foot of $3,701.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35,000,000
- Square Footage: 9,455
- Price Per Square Foot: $3,701
- Market: Miami
- Seller: Sam Hertzberg, David Hertzberg & Richard Do
- Seller's Representative: Joe Fernandez, Tony Arellano & Devlin Marinoff - DWNTWN Realty Advisors
Key individuals involved in the deal include the sellers, Sam Hertzberg, David Hertzberg, and Richard Do, who played significant roles in the transaction. The representatives from DWNTWN Realty Advisors, Joe Fernandez, Tony Arellano, and Devlin Marinoff, facilitated the sale, supporting the sellers throughout the process.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93