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1751, 1757 and 1775 Collins...

Wilhelmina Models Leases 2,000 SF Office Space In Wynwood House, Miami With Landlord Goldman Properties
SOLD

Wilhelmina Models Leases 2,000 SF Office Space In Wynwood House, Miami With Landlord Goldman Properties

1751, 1757 and 1775 Collins Avenue

Building Size

Asset Type

Closing

May 8, 2023

AI

Wilhelmina Models, a talent management agency, has secured a new location in Miami. The agency has relocated from its longtime Miami Beach spot to a 2,000-square-foot space at 331 Northwest 26th Street in Wynwood House. The property, managed by Goldman Properties, is part of the firm's portfolio and is situated in the thriving arts district of Wynwood. Goldman Properties has played a significant role in the transformation of Wynwood into an internationally renowned arts destination, with notable projects such as Wynwood Walls and Wynwood Garage.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 331 Northwest 26th Street, Miami
  • Market: Miami
  • Square Footage: 2,000

The leasing deal was facilitated by Juliette Gruener of Apex Capital Realty, who represented the tenant, Wilhelmina Models. Goldman Properties, represented by Jessica Goldman Srebnick and Scott Srebnick, acts as the landlord for the property. The move to Wynwood House enables Wilhelmina Models to benefit from the neighborhood's vibrant art scene and further expand its operations in Miami.

Players

Jessica Goldman Srebnick

Goldman Properties

Landlord

$24.1M

vol

4 deals

Landlord

Market CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93