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753 & 777 Northeast 79th St...

Jake Waserstein Acquires Retail Property In Miami For $3M
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Jake Waserstein Acquires Retail Property In Miami For $3M

753 & 777 Northeast 79th Street

$3,000,000

$250/SF

Building Size

12,000 SF

Asset Type

Retail

Closing

Mar 15, 2023

AI

Jake Waserstein has purchased the retail property located at 753 & 777 Northeast 79th Street in Miami. The property spans 12,000 square feet and was sold for $3,000,000, resulting in a price per square foot of $250. The sale was facilitated by Samuel Heskiel of Beachfront Realty.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $3,000,000
  • Address: 753 & 777 Northeast 79th Street, Miami
  • Market: Miami
  • Buyer: Jake Waserstein
  • Seller: Patch Lending
  • Broker: Samuel Heskiel - Beachfront Realty
  • Square Feet: 12,000
  • Price Per Square Foot: $250

Jake Waserstein, the buyer, acquired the retail property at 753 & 777 Northeast 79th Street in Miami from Patch Lending. Assisting in the transaction was Samuel Heskiel of Beachfront Realty.

Players

Samuel Heskiel

Beachfront Realty

Broker

$355.3M

vol

31 deals

Broker

Market 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93