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8 Southeast 8th Street, Dow...

Updated Feb 21, 2025

Black Lion Acquires Retail Property In Brickell, Miami For $13.5M
SOLDRetail

Black Lion Acquires Retail Property In Brickell, Miami For $13.5M

8 Southeast 8th Street, Downtown Miami, Miami, FL 33131, USA

$13,500,000

$1,183/SF

Building Size

11,412 SF

Asset Type

Retail

Closing

Jul 2, 2020

About this deal

AI

The recently closed property transaction in Brickell, Miami involved the sale of a retail asset located at 8 SE 8th St. The property, spanning approximately 11,412 square feet, was sold for a total price of $13,500,000, resulting in a price per square foot of $1,183. The buyer of the property was Black Lion, represented by Robert Rivani, the president of the firm. The seller of the property was Related Group. The transaction was facilitated by Fabio Faerman and Sebastian Faerman from FA Commercial, who acted as the brokers for the deal.

Summary of Transaction Details

  • Property Type: Retail
  • Sale Price: $13,500,000
  • Square Footage: 11,412
  • Price Per Square Foot: $1,183
  • Date: 07/02/2021
  • Address: 8 SE 8th St
  • Market: Brickell, Miami

Black Lion, led by Robert Rivani, expressed excitement about being a part of Miami's growth story. The company aims to contribute to Miami's thriving dining and nightlife scene by bringing world-class food and beverage offerings to the city. Rivani mentioned that post-pandemic, people are increasingly seeking out hospitality experiences that cannot be recreated at home, and Miami's year-round residents and visitors are expected to continue enjoying the unique atmosphere of the city. Black Lion plans to invest additional capital of $50-100 million in South Florida, including its recent investments of $38 million in Miami, which include the Katsuya restaurant, Wynwood Arcade, and Amara at Paraiso.

Players

Fabio Faerman

FA Commercial

Broker

$274.6M

vol

65 deals

Broker
Fortune International Realty
Fortune International RealtyBrokerage
Robert Rivani

Robert Rivani

Black Lion

Buyer

$573M

vol

55 deals

Buyer
Related Group
Related GroupSeller
Related Group
Related GroupLender

Miami Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Deal FAQ

About $1.2K per square foot on a published $13.5M for 11,412 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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