Tricera Capital And LNDMARK Sell Wynwood Office Building With $36.2M JP Morgan Acquisition Loan
222 Nw 24th St
$36,180,000
$390/SF
Building Size
92,552 SF
Asset Type
Office
Closing
Dec 8, 2022
About this deal
AI
The property involved in this closed transaction is an office located at 230 NW 24th Street in the Wynwood market. The transaction took place on 12/13/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $36,180,000
- Address: 230 NW 24th Street
- Market: Wynwood
The lender for this transaction was JP Morgan. The landlords involved in the deal were Brick & Timber and Argosy Capital Partners. The brokers who represented both parties in the transaction were Scott Wadler and Michael (Thomas) Basinski from Berkadia. The sellers of the property were Tricera Capital and LNDMARK.
The loan amount for this transaction was $36,180,000, and it was an acquisition loan.
On the Map
$36,180,000
$390/SF
Office
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Players
Miami Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93