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.
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