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509 Collins Avenue, Miami B...

Debra Kalimian Acquires Retail Property In Miami Beach For $35.25M
SOLDRetail

Debra Kalimian Acquires Retail Property In Miami Beach For $35.25M

509 Collins Avenue, Miami Beach, Florida 33139, United States

$35,250,000

$1,542/SF

Building Size

22,857 SF

Asset Type

Retail

Closing

Oct 18, 2022

AI

A retail property located at 509 Collins Ave in Miami Beach has been sold for $35,250,000. The property spans across 22,857 square feet, resulting in a price per square foot of $1,542. The sale took place on October 19, 2022, and involved Debra Kalimian as the buyer and Eric Hadar as the seller.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $35,250,000
  • Square Footage: 22,857
  • Price per Square Foot: $1,542
  • Date: October 19, 2022
  • Address: 509 Collins Ave, Miami Beach

The sale was facilitated by Ricardo Esteves, Gabriel Britti, and Ronnie Issenberg from Marcus & Millichap, who represented both the buyer, Debra Kalimian, and the seller, Eric Hadar, in the transaction.

Players

Gabriel Britti

Marcus & Millichap

Broker

$502.2M

vol

70 deals

Broker

Eric Hadar

Allied Partners

Seller

$147.4M

vol

4 deals

Seller

Miami Beach 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