Michael Comras Of Comras Company Acquires Retail Portfolio On Lincoln Road In Miami Beach For $140M
600 Lincoln Road
$140,000,000
Building Size
—
Asset Type
Retail
Closing
Oct 23, 2025
About this deal
AI
The transaction involves a portfolio of retail buildings located at 600, 719-737, 741, 801–821, 826–838 Lincoln Road and 723 North Lincoln Lane in the Miami Beach market. The asset type is classified as retail, and the overall deal is valued at $140,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $140,000,000
- Buyer: Michael Comras - Comras Company
- Seller: Lauren Hochfelder - Morgan Stanley Real Estate Investing; Stephen Bittel - Terranova Corp
- Date of Transaction: 10/23/2025
Developer Michael Comras is engaged in the acquisition of these retail buildings, which are part of a portfolio that Morgan Stanley Real Estate Investing and Terranova previously purchased for $342 million in 2014. The pending transaction notably excludes one building leased to the Salvation Army, indicating a strategic decision in the asset consolidation.
On the Map
$140,000,000
Retail
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Players
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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93