Matthew Lebenson Buys Retail Condo On 900 Biscayne Blvd For $6.2M
900 Biscayne Boulevard
$6,200,000
$896/SF
Building Size
6,917 SF
Asset Type
Retail
Closing
Jun 10, 2024
AI
A Multi-Tenant Retail Condo located at 900 Biscayne Boulevard in Miami was recently sold in a transaction with a sale price of $6,200,000. The property spans 6,917 square feet, resulting in a price per square foot of $896. The Buyer, Biscayne Up LLC represented by Matt Lebenson, acquired the asset from the seller, Itai Kathein. The property features a variety of tenants including Sushi Sake, Craft Miami, and Ideal Nutrition. The deal was facilitated by brokers Jonathan De La Rosa and Hugo Cardona from Marcus & Millichap.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $6,200,000
- Address: 900 Biscayne Boulevard
- Market: Miami
- Square Footage: 6,917
Hugo Cardona and Jonathan De La Rosa from Marcus & Millichap played key roles in representing both the Buyer and Seller in this transaction, bringing together the parties involved in the sale of the Multi-Tenant Retail Condo. The Buyer, Biscayne Up LLC, and the Seller, Itai Kathein, entrusted these brokers to facilitate the deal, which included a diverse mix of tenants in a prime location on Biscayne Blvd.
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Miami 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
2.56%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93