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

Property Image
SOLD
$6,200,000

Florida

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Retail6,917 SF
Sold 06/10/2024
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Property Image
SOLD

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

900 Biscayne Boulevard

See Similar Deals
Retail6,917 SF
Sold 06/10/2024
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$896
Total Square Footage:6,917 SF
Transaction Type:Sale

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
141 deals$628.7M volume(786) 522-7027
BROKER

Hugo Cardona
Marcus & Millichap
5 deals$18.9M volume(561) 451-5451
BROKER

Details

SOLD
IMAGE: Hugo Cardona & Jonathan De La Rosa DATE: 06/10/2024 ADDRESS: 900 Biscayne Boulevard MARKET: Miami ASSET TYPE: Retail BUYER: Biscayne Up LLC – Matt Lebenson SELLER: Itai Kathein BROKERS: Jonathan De La Rosa (@J_DLR_) & Hugo Cardona (@Hugo.says) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $6,200,000 SF: 6,917 ~ PPSF: $896 NOTE FROM BROKERS: Multi-Tenant Retail Condo on Biscayne Blvd. Tenant Mix: Sushi Sake, Craft Miami, & Ideal Nutrition. Represented Buyer and Seller.

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Operating Income
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,027.28
Cash-on-Cash Return-1.27%
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