Eugene Profis Of Terrior Wine Club Acquires Retail Property On Collins Avenue For $5.7M
614 Collins Avenue
$5,700,000
$600/SF
Building Size
9,500 SF
Asset Type
Retail
Closing
Jul 1, 2024
AI
The asset involved in this transaction is a retail property located at 614 Collins Avenue in Miami Beach. The sale was completed for a total amount of $5,700,000. The property encompasses a total of 9,500 square feet, resulting in a price per square foot of $600.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $5,700,000
- Address: 614 Collins Avenue
- Market: Miami Beach
- Square Footage: 9,500
- Price per Square Foot: $600
- Buyer: Eugene Profis - Terrior Wine Club
- Seller: Ocean Bank
- Brokers: Jordan Gimelstein, David Spitz & Jared Robins - Inhouse Commercial
The transaction features notable individuals and companies, with Eugene Profis representing Terrior Wine Club as the buyer. Ocean Bank was the seller in this transaction. The brokerage team included Jordan Gimelstein, David Spitz, and Jared Robins from Inhouse Commercial, who facilitated the deal for both parties.
Players
Miami Beach 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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93