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900 Biscayne Boulevard

Matthew Lebenson Buys Retail Condo On 900 Biscayne Blvd For $6.2M
SOLDRetail

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.

Players

Jonathan De La Rosa

Marcus & Millichap

Broker

$672.6M

vol

148 deals

Broker

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